What is yearly interest rate being offered by the dealer

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Reference no: EM131868201

A businessman wants to buy a truck. The dealer offers to sell the truck for either ?$102,000 ?now, or 7 yearly payments of ?$18337,with the first payment one year after the purchase of the truck. What is the yearly interest rate being offered by the dealer? (to the? customer)?

?(Round your final answer to two decimal? places, i.e.,? XX.XX%.)

Reference no: EM131868201

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