An auto dealership is advertising that a new car with a sticker

price of $$34,488$ is on sale for $$25,995$ if payment is made in full,

or it can be financed at $0\%$ interest for $72$ months with a monthly

payment of $$479.$ Note that $72$ payments $\backslash$times $$479$ per payment $=$

$$34,488,$ which is the sticker price of the car. By allowing you to

pay for the car in a series of payments $($starting one month from

now$)$ rather than $$25,995$ now, the dealer is effectively loaning you

$$25,995.$ If you choose the $0\%$ financing option, what is the

effective interest rate that the auto dealership is earning on your

loan? $($Hint: Discount the payments back to current dollars, and use

Goal Seek to find the discount rate that makes the net present

value of the payments $=$ $$25,995.)$Enter your answer as a percentage. If required, round your

answer to one decimal digit.