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You have reached an agreement with an auto dealer regarding a new car. She has offered you a trade in allowance of $7000 on your

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You have reached an agreement with an auto dealer regarding a new car. She has offered you a trade in allowance of $7000 on your old car for a new one that she has reluctantly reduced to only $32 000 (before trade-in). She has further agreed upon a contract that requires you to pay $47178 each of the next 60 months beginning one month from today. What is your interest rate expressed as an annual percentage? Give your answer to the nearest 0.01% With your instructor's approval, write a computer program or use a spreadsheet to solve the problem, The interest rate is 0.03 %

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