Roger has just lost a lawsuit and has agreed to make equal annual payments of $13,950 for the next 8 years with the firs

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Roger has just lost a lawsuit and has agreed to make equal annual payments of $13,950 for the next 8 years with the firs

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Roger has just lost a lawsuit and has agreed to make equal annual payments of $13,950 for the next 8 years with the first payment due today. The value of this liability today is $93,000. What is the interest rate on the payments? Multiple Choice 5.58% 4.24% 4.07% 4.82% 5.29%
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