Question: I need help computing the interest rate for this question please. Recently, Carla Estes was interested in purchasing a Honda Acura. The salesperson indicated that

I need help computing the interest rate for this question please.

Recently, Carla Estes was interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $28,900 cash or $7,400 at the end of each of 5 years. Compute the effective-interest rate to the nearest percent that Carla would pay if she chooses to make the five annual payments. (Round answer to 0 decimal places, e.g. 7%.)

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