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You buy a $25,000 piece of equipment for nothing down and $5,500 per year for 6 years. What interest rate are you paying? The formula

You buy a $25,000 piece of equipment for nothing down and $5,500 per year for 6 years. What interest rate are you paying? The formula relating present worth P, annual payments A, number of years n, and interest rate i is: image text in transcribed

Write a Matlab code to solve using the secant method

A=P(1+i)n1i(1+i)n

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