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Recently, Julia Estes was interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $28,500 cash or $7,100

Recently, Julia Estes was interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $28,500 cash or $7,100 at the end of each of 5 years. Compute the effective-interest rate to the nearest percent that Julia would pay if she chooses to make the five annual payments. (Round answer to O decimal places, eg. 7%) Click here to view factor tables Interest rate %

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