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Assume you receive a statement from Mastercard with a balance due of $1,079.28. You may pay it off in 12 equal monthly payments of

Assume you receive a statement from Mastercard with a balance due of $1,079.28. You may pay it off in 12 equal monthly payments of $115 each, with the first payment due one month from now. What rate of interest would you be paying? (Round answer to O decimal places, eg. 25%) Click here to view Table A.4-PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 Interest rate % per month

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