You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. The annual interest rate is:

You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. The annual interest rate is:

You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. The annual interest rate is:

a. 24%.
b. 8%.
c. 18%.
d. 12%.