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What rate of return did the company make on deposits

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Reference no: EM131987315

An a&e firm planning for a future expansion deposited $30000 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 $450000 immediately after the fifth deposit, what rate of return did the company make on these deposits?

Reference no: EM131987315

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