Firm planning for future expansion deposited

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Reference no: EM131587059

An A&E firm planning for a future expansion deposited $40,000 each year for 5 years into a sinking (investment) fund that was to pay an unknown rate of return. If the account had a total of $451,000 immediately after the fifth deposit what rate of return did the company make on these deposits?

The rate of return that the company made was %.

Reference no: EM131587059

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