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47. A person makes annual payments of $1,000 into an ordinary :to ar o start annuity. At the end of 5 years, the amount in

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47. A person makes annual payments of $1,000 into an ordinary :to ar o start annuity. At the end of 5 years, the amount in the annuity is $5,840. What annual nominal compounding rate has this annuity earned

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