What is the future value of 16 periodic payments of $7,700 each made at the end of each period and compounded at 10%? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, eg. 458,581.) The future value $ Novak Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $659,320. The purchase agreement specifies an immediate down payment of $160,000 and semiannual payments of $61,562 beginning at the end of 6 months for 5 years. What is the interest rate, to the nearest percent, used in discounting this purchase transaction? Interest rate % semiannually