What is the annual interest rate

Reference no: EM132774473

Question - Edward is considering purchasing a new car. The cash purchase price for the car is $75420. What is the annual interest rate if Edward is required to make annual payments of $18000 at the end of the next five years?

a. 5%.

b. 6%.

c. 7%.

d. 8%.

Reference no: EM132774473

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