You are helping a student in your class solve a TVM problem. This is what you know (given to you): 1. The problem is a 7-year ordinary annuity 2. The factor to apply to this problem is 8.0120 3. The annuity cash flows occur at the end of each year 4. All information provided is accurate What is the implied interest rate for this problem? You need to use the TVM tables to answer this question. Other methods will take a lot longer. 1) The rate will be between 9% and 10% 2) The rate will be between 7% and 8% 3) The rate will be between 10% and 12% 4) The rate will be between 4% and 5%