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A businessman wants to buy a truck. The dealer offers to sell the truck for either $149,000 now, or 5 yearly payments of $35,951, with
A businessman wants to buy a truck. The dealer offers to sell the truck for either
$149,000
now, or
5
yearly payments of
$35,951,
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)?
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