Question: What is the interest rate, r when the present value of a perpetuity is $64,000 and the payments are $9,200? The first payment occurs one

What is the interest rate, r when the present value of a perpetuity is $64,000 and the payments are $9,200? The first payment occurs one year from now. Enter your answer as a percentage. Do not include the percentage sign in your answer.

Can you please show your work so i can understand how to do it. Thank you

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