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Derek decides to buy a new car. The dealership offers him a choice of paying $550.00 per month for 5 years (with the first payment

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Derek decides to buy a new car. The dealership offers him a choice of paying $550.00 per month for 5 years (with the first payment due next month) or paying some $28,058.00 today. He can borrow money from his bank to buy the car. What interest rate makes him indifferent between the two options? Submit Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal forma rounded to 5 decimal places (ex: 0.09243)) Derek wants to withdraw $12.929.00 from his account 7.00 years from today and $12.218.00 from his account 11.00 years from today. He currently has $2.765.00 in the account. How much must he deposit each year for the next 11.0 years? Assume a 6.54% interest rate. His account must equal zero by year 11.0 but may be negative prior to that. Submit

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