Question: Problem 9-41 Yield [LO9-4] If you borrow $8,686 and are required to pay back the loan in five equal annual installments of $2,350, what is

Problem 9-41 Yield [LO9-4] If you borrow $8,686 and are required

Problem 9-41 Yield [LO9-4] If you borrow $8,686 and are required to pay back the loan in five equal annual installments of $2,350, what is the interest rate associated with the loan? Use Appendix D or a financial calculator to solve this problem. (Round your answer to the nearest whole percent.) Interest rate

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