A businessman wants to buy a truck. The dealer offers to sell the truck for either $120,000 now, or 5 yearly payments of $31,462?, with the first payment one year after the purchase of the truck. What is the yearly interest rate being offered by the dealer? (to the? customer)?
____?%
?(Round your final answer to two decimal? places, i.e.,? XX.XX%.)
Please include how you got the answer.