jennifer siegel bought a new ford focus for $21,600. she made a down payment of $4500 and she financed the…

Explanation:

Step1: Calculate the loan amount

The cost of the car is $21600$ and the down - payment is $4500$. So the loan amount $P$ is $21600 - 4500=17100$.

Step2: Calculate the total amount repaid

The monthly payment $M = 560.58$ and the number of months $n=3\times12 = 36$ months. The total amount repaid $A$ is $M\times n=560.58\times36 = 20180.88$.

Step3: Calculate the total interest paid

The total interest $I$ is $A - P=20180.88 - 17100 = 3080.88$.

Step4: Use the formula for APR (using a financial calculator or an online APR calculator)

We can use the formula for the present - value of an ordinary annuity $P = M\times\frac{1-(1 + r)^{-n}}{r}$, where $P$ is the loan amount, $M$ is the monthly payment, $r$ is the monthly interest rate, and $n$ is the number of payments. We can also use a financial calculator: $N = 36$ (number of periods), $PV=- 17100$ (loan amount, negative because it's the present value or the amount received), $PMT = 560.58$, $FV = 0$ (loan is paid off at the end). Solving for $r$ (monthly interest rate) and then multiplying by 12 to get the APR. Using a financial calculator or an online loan - calculator tool, we find that the monthly interest rate $r\approx0.008333$. The APR is $12r$. So $APR=12\times0.008333\times100 = 10.00%$ (rounded to two decimal places).

Answer:

$10.00$