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5. Your friend claims that he invested $6,000 eight years ago and that this investment is worth $48,700 today. For this to be true, what

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5. Your friend claims that he invested $6,000 eight years ago and that this investment is worth $48,700 today. For this to be true, what annual rate of return did he have to earn? Assume the interest compounds annually. Show calculations or calculator inputs

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