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What is the interest rate

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Question - Wildhorse Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $906,565. The purchase agreement specifies an immediate down payment of $220,000 and semiannual payments of $84,647 beginning at the end of 6 months for 5 years. What is the interest rate, to the nearest percent, used in discounting this purchase transaction?

Reference no: EM132611536

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