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A local bank is running the following advertisement in the newspaper: For just $ 950 we will pay you $ 50 forever! The fine print

A local bank is running the following advertisement in the newspaper: "For just $ 950 we will pay you $ 50 forever!" The fine print says that for a $ 950 deposit, the bank will pay $ 50 every year in perpetuity, starting one year after the deposit is made. What interest rate is the bank advertising (what is the rate of return of this investment)?

The interest rate the bank is advertising is what percentage?

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