Financial Technology Center - School of Business - Central Connecticut State University

South Penn Trucking is financing a new truck with a loan of $10,000 to be repaid in 5 annual end-of-year installments of $2,504.56. What annual interest rate is the company paying

Financial calculator solution.
Inputs:
N =5 * 1 .
PV=10000 .
PMT = -2504.56 .
FV= 0 .
 
Output: I = ?