Exercise B$-7($Algo$)$ Interest rate on an investment LO P$3$

Jones expects an immediate investment of $$93,428\mathrm{.}70$ to return $$19,000$ annually for six years, with the first payment to be received

one year from now. What rate of interest must Jones earn? $($PV of $$1,$ FV of $$1,$ PVA of $$1,$ and FVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided. Round "Table Factor" to $4$ decimal places.