Question regarding the annual interest rate
Problem:
Hawkins Trucking is financing a new truck with a loan of $1-,000 to be repaid in 5 annual end-of-year installments of $2504.56.
Required:
Question: What annual interest rate is the company paying?
Note: Explain all steps comprehensively.
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Question: What annual interest rate is the company paying? Note: Explain all steps comprehensively.
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