Related to Checkpoint 5.6) (Solving for i) You've run out of money for college, and your college roommate has an idea for you. He offers to lend you \$14,000, for which you will repay him \$36,919 at the end of 6 years. If you took this loan, what interest rate would you be paying on it?
If you took this loan, the interest rate you would be paying on it is % (Round to two decimal places.)