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You want to buy a piece of land and the owner would sell it to you for $20,000 cash. Alternatively, he would let you pay

You want to buy a piece of land and the owner would sell it to you for $20,000 cash. Alternatively, he would let you pay for it with five annual installments of $5,000 each, the first one due right now. What is the implied interest rate here?

West Bank gives consumer loans at the annual interest rate of 8.25%. Suppose you take out a $5,200 loan for 36 months, what will your monthly payment be?

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