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A pension fund is making an investment of $ 1 0 0 , 0 0 0 today and expects to receive $ 1 , 6
A pension fund is making an investment of $ today and expects to receive $ at the end of each month for the next five years. At the end of the fifth year, the capital investment of $ will be returned.
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What is the internal rate of return compounded annually on this investment?
Note: Do not round intermediate calculations and round your final answer to decimal place.
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