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Ayayai Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $972,497. The purchase agreement specifies an immediate down

Ayayai Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $972,497. The purchase agreement specifies an immediate down payment of $236,000 and semiannual payments of $90,803 beginning at the end of 6 months for 5 years. What is the interest rate, to the nearest percent, used in discounting this purchase transaction?

interest rate ____ % semiannually

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