Question: On July 1 7 , 2 0 2 1 , Michael Urban borrowed $ 8 4 , 0 0 0 from his grandfather to open

On July 17,2021, Michael Urban borrowed $84,000 from his grandfather to open a clothing store. Starting July 17,2022, Michael has to make 10 equal annual payments of $12,000 each to repay the loan. Use a financial calculator to determine what interest rate Michael is'paying. (Round answer to 2 decimal places, e.g.25.50%.)
Interest rate
On July 17,2021, Michael Urban borrowed $84,000 from his grandfather to

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