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An endowment fund contains $240,000 today. The trustee has determined that the account can pay out $18,000 each year, in perpetuity, starting from next year.

An endowment fund contains $240,000 today. The trustee has determined that the account can pay out $18,000 each year, in perpetuity, starting from next year. Find the rate of return on the endowment.

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