you are paying of a purchase made with a down payment of 50000 usd. you will pay the rest of 245000 in 5 installments equalling 49000 for 5 months. what is the interest rate that will help pay off your total purchase.

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
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you are paying of a purchase made with a down payment of 50000 usd. you will pay the rest of 245000 in 5 installments equalling 49000 for 5 months. what is the interest rate that will help pay off your total purchase.
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