# You buy a $25,000 piece of equipment for nothing down and $5,500 per year for 6 years. What interest rate

## Question:

You buy a $25,000 piece of equipment for nothing down and $5,500 per year for 6 years. What interest rate are you paying? The formula relating present worth P, annual payments A, number of years n, and interest rate iis

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**Related Book For**

## Numerical Methods For Engineers

**ISBN:** 9780071244299

5th Edition

**Authors:** Steven C. Chapra, Raymond P. Canale

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