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9. You need $16,000 at the beginning of year 8. Ten years ago, you saved $4,000 for twelve years in the Eastern bank that pays

9. You need $16,000 at the beginning of year 8. Ten years ago, you saved $4,000 for twelve years in the Eastern bank that pays 6% compounded annually. Starting from year 2, the interest rate you must earn is closest to: 18% 12% 14.4%

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