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A local bank will pay you $ 1 7 4 a year for your lifetime if you deposit $ 2 , 4 0 0 in

A local bank will pay you $

174

a year for your lifetime if you deposit $

2, 400

in the bank today. If you plan to live forever, what interest rate is the bank paying?

Note: Enter your answer as a percent rounded to

2

decimal places.

Interest rate

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