For 20 years. Unfortunately, your aunt needs as much as $250,000 cash now to pay for medical bills that she and your uncle incurred as a result of an accident. A local finance company has proposed to provide her with the $250,000 cash in return for the $50,000 annual payments over the next 9 years. What is the interest rate implicit in the local finance company proposal. What advice would you give to our aunt.
could you give also calculator entries?