Question: Problem 5-25 Spreadsheet Problem: Annuity Interest Rate (LG5-8) What is the APR interest rate of a six-year, monthly $400 annuity with present value of $20,000?

Problem 5-25 Spreadsheet Problem: Annuity Interest Rate (LG5-8)

What is the APR interest rate of a six-year, monthly $400 annuity with present value of $20,000?

Note: Do not round intermediate calculations and round your final answer to 2 decimal places.

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