On July 17, 2016, Keith Urban borrowed $42,000 from his grandfather to open a clothing store. Starting

Question:

On July 17, 2016, Keith Urban borrowed $42,000 from his grandfather to open a clothing store. Starting July 17, 2017, Keith has to make 10 equal annual payments of $6,500 each to repay the loan. Use a financial calculator to determine what interest rate Keith is paying.