A college student wishes to purchase a new car. In order to pay for the vehicle, the student borrows $22,000 from his parents today (beginning of the current year). Starting at the end of the current year, he must make ten equal annual payments of $2,500 each. What interest rate is the student paying his parents? A finance professor wishes to invest $40,000 at the end of this year. He wants his investment to grow to $137,000 in 16 years. At what interest rate must the professor invest to reach his goal? a. b