Assume your credit card bill is $1,259. The credit card statement indicates that if you make minimum payments of $25.00 per month, then you will pay off the bill in 7 years.

Given at 1% we have a value of 56.6485 and at 1.5% we have a value at 47.5786. Use a program solver of your choice to solve the discrete interest rate formula for the unknown interest rate. Enter your answer for the monthly interest rate as a percentage, rounded to two decimal places, without the percentage sign. (Note: For example, if your answer is 10.52%, enter "10.52" as your answer).

\begin{tabular}{|l|l|} \hline Interest Rate, i% & (AP,i%,84) \\ \hline 1% & \\ \hline i=? & \\ \hline 1.5% & \\ \hline \end{tabular}