What is my annual interest rate on my boat loan with the following terms? $36$ months, $$36,000$ purchase, $20\%$ down payment, payment of $$1297$ each month.

Hint: Do not forget to convert to an annual rate.

Hint: Down payments are subtracted from the purchase amount when calculating the present value.

Question $11$ options:

$3\%$

None of these

$17\mathrm{.}75\%$

$34\mathrm{.}64\%$

$5\mathrm{.}83\%$

$2\mathrm{.}89\%$