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There is a town house you are keeping an eye on located on 104th street in Manhattan. We know that it will be priced at
There is a town house you are keeping an eye on located on 104th street in Manhattan. We know that it will be priced at 7 million dolloars 20 years from now. An employee at Baruch Bank offers you a financing option if you install a down payment of 1 million dolloars today. Afterwards, you will need to pay 0.1 million dollars at the end each year for 20 years. This deal has an interest rate of _______ %. Round up your answers to the 2nd decimal place
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