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What is the implied interest rate

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You paid $270,548.52, an annuity that pays you $1,000 per month for 30 years. What is the implied interest rate? If, instead of spending the $1,000. You invest all the payments you received as soon as you receive them in a bank account that pays you 1.75% annual interest rate. How much money would you have in the bank account at the end of 30 years?

Reference no: EM132406808

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