Related to Checkpoint 5.6)(Solving for

i)

You lend a friend

$10,000,

for which your friend will repay you

$45,077

at the end of

7

years. What interest rate are you charging your "friend"?

Question content area bottom

Part 1

The interest rate you are charging your friend on the loan is

enter your response here%.

(Round to the nearest whole percent.)