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Question $37$ of $100-$ Exam $4$

of $100$

Martin's Auto Repair Service is considering the purchase of a new piece of equipment that costs $$4,215\mathrm{.}90.$ The equipment would allow Martin's to generate additional revenue of $$1,200$ per year for four years. At what interest rate would this investment break even?

$3\mathrm{.}2\%$

$5\mathrm{.}4\%$

$5\mathrm{.}9\%$

$6\mathrm{.}3\%$