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Compute the interest rate

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You want to save $20,000 over the next 10 years and you are thinking of investing money annually in order to achieve this goal. If you are able to invest $1,255 annually for 10 years, what is the interest rate that would be required for you to have $20,000 in ten years. (The answer should be the percentage number)

Reference no: EM133061731

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