You are considering buying a new car. The sticker price is $37,750 and you have $5,000…

You are considering buying a new car. The sticker price is
$37,750 and you have $5,000 to put toward a down payment. If you
can negotiate a Flat interest rate of 7.5 percent and you wish to
pay for the car over a 4-year period. What is the equivalent Annual
Percentage Rate on this loan?