What annual interest rate per year compounded

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Reference no: EM132020659

An agency wants to have $100,000,000 at the end of 25 years. The agency will deposit $1,500,000 at the end of each year for 25 years. At what annual interest rate per year compounded annually, the deposits must be invested to have the amount required at the end of year 20. Show all steps.

Reference no: EM132020659

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