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What is the approximate rate of return

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Question - Drake invests a lump sum of $152,578 in a fund and expects to receive $10,000 per year from the investment for the next 30 years. What is the approximate rate of return compounded annually?

a. 5.26%

b. 49.14%

c. 5.07%

d. 6.55%

Reference no: EM133027778

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