Just solve for the interested rate; there's nothing else in the question.

Freddish Construction has decided to lease a large piece of equipment. The equipment could have been purchased today for a cash payment of $700,000. Instead, Freddish will be making 6 payments of $120,000 annually. The first payment is due upon signing the lease and a final buyout payment of $250,000 will be required at the end of the lease period. Freddish has asked that you help them understand what interest rate they are being charged by the leasing company. Enter dollar amounts in the following form: Sxx.xxx, enter number of periods as integers (round where necessary), and enter interest rates in the following form xxx%. Calculation uses what type of payments? Beginning. Ending, or N/A Beginning PV700000 PV-a