Question: Problem 5 - 2 0 Annuity Interest Rate ( LG 5 - 8 ) What's the interest rate of a 5 - year, annual $

Problem 5-20 Annuity Interest Rate (LG5-8)
What's the interest rate of a 5-year, annual $6,000 annuity with present value of $25,000?
Note: Use a time value of money calculator or a spreadsheet. Round your answer to 2 decimal places.
Annuity interest rate
%
Problem 5-20 Annuity Interest Rate (LG5-8) What's the interest rate of

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