What would be the interest rate on a loan of $9476.97 that you paid off with annual payments of $2,500 at the end of the next five years? % (Express your anser as a percentage, accurate to within one decimal place.)

What would be the interest rate on a loan of $9476.97 that you paid off with annual payments of $2,500 at the end of the next five years? % (Express your anser as a percentage, accurate to within one decimal place.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 14P

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What would be the interest rate on a loan of $9476.97 that you paid off with annual payments of $2,500 at
the end of the next five years?
% (Express your ansler as a percentage, accurate to within one decimal place.)
%3D
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