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What rate of interest will patricia investment be earning

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Reference no: EM132418815

Problem:

Patricia Johnson made an investment of $18,215.80. From this investment, she will receive $2,000 annually for the next 15 years starting one year from now.

Click here to view the factor table.

(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

What rate of interest will Patricia's investment be earning for her? (Hint: Use Table 4.) (Round answer to 0 decimal places, e.g. 25%.)

Reference no: EM132418815

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