Question: How do I solve this problem? Effective Rate of Interest A mortgage company offers to lend you $85,000; the loan calls for payments of $9,777.09

How do I solve this problem? How do I solve this problem? Effective Rate of Interest A mortgage

Effective Rate of Interest A mortgage company offers to lend you $85,000; the loan calls for payments of $9,777.09 at the end of each year for 30 years. What interest rate is the mortgage company charging you? Do not round intermediate calculations. Round your answer to the nearest whole number. % Check My Work (No more tries available)

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