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What is the interest rate to the nearest percent

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Question - Skysong Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $675,803. The purchase agreement speci?es an immediate down payment of $164,000 and semiannual payments of $63,101 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: EM132479097

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