PVOA = PMT x PVOA factor for n=6, i=?;

$5,000 = $1,000 x PVOA factor for n=6, i=?;

$5,000/$1,000 = PVOA factor for n=6, i=?;

5.000 = PVOA factor for n=6, i=?

The factor 5.000 appears in the row n=6 where i =

**5.5%.**Hence, this loan has an implicit interest rate of 5.5%.

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