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8 months ago, you made an invest of $100. Today, that investment is worth $118.7. There have been no cash flows between when you first

8 months ago, you made an invest of $100. Today, that investment is worth $118.7. There have been no cash flows between when you first made the investment and today. What has your effective annual rate of return (EAR) been on this investment? Take your answer out to three decimals.

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