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Posted on Jul 29, 2024

A financial institution offers $ 1 5 , 0 0 0 in 1 0 years if you deposit $ 1 1 , 0 0 0

A financial institution offers $

15, 000

10

years if you deposit $

11, 000

today. What yearly interest rate

(

in percent

)

is the financial institution offering? Assume yearly compounding.

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