Multiple Choice
South Penn Tracking is financing a new truck with a loan of $10,000 to be repaid in 5 annual end-of-year installments of $2,504.56.What annual interest rate is the company paying?
A) 7%
B) 8%
C) 9%
D) 10%
E) 11%
Correct Answer:
Verified
Correct Answer:
Verified
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