(Answered) A firm can lease space for the next 3years by paying a one

Finance

A firm can lease space for the next 3years by paying a one time charge of 72,000 now or paying 30,000per year over the three year period of time. What is the equivelent interest rate by paying yearly.

i) Between 10 &11%
ii) Between 12 &14%
iii) Between 14 &15%
iv) Between 15 &16%

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