Please solve in the format of:

FV (future value) = PV (present value) = PMTvend (End payment) = I/YR (interest per year) = N (periods) =

41. Calculating Annuity Present Values [LO2] You want to borrow $115,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $2,250, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan