Question: Homework: Homework for Section 5.3 Question 7, 5.3.19- HW Score: 37.76% 5.29 of 14 points O Points: 0 of 1 Save Find the interest rate

Homework: Homework for Section 5.3 Question 7, 5.3.19- HW Score: 37.76% 5.29 of 14 points O Points: 0 of 1 Save Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period $50,000 to be accumulated in 11 years; annual payments of $3144. BORD The Interest rate needed is approximately % (Round to two decimal places as needed.)

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