You purchase a new living room set for $1,275. You put a 5% down payment and $75.76 per month on a 24 month purchase plan. Use the APR formula to determine the annual percentage rate to a tenth of a percent. 
 a.
 35.23%
 c.
 41.7%
 b.
 37.03%
 d.
 45.2% 
 The answer is c