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After losing a lawsuit related to an auto accident, NFW Tire Corp. is required to pay the victim $8,000 per month for 10 years, starting
After losing a lawsuit related to an auto accident, NFW Tire Corp. is required to pay the victim $8,000 per month for 10 years, starting one month from now. The company places $725,795 in a special interest-bearing account to fund these payments. What annual rate of return (EAR) on the account must they be assuming?
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