Question $15$

$10$ pts

Fancy Cat Products has a project that will cost $$247,500$ today and will generate monthly cash flows of $$5,435$ for the next $60$ months. What is the rate of return of this project when expressed as an APR?

$11\mathrm{.}75\%$

$13\mathrm{.}07\%$

$9\mathrm{.}96\%$

$10\mathrm{.}55\%$

$11\mathrm{.}43\%$