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Answer quick Problem 7-12 You are 20 years old and inherit $50,000 from your grandmother. If you wish to purchase a $92,550 boat to celebrate

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Problem 7-12 You are 20 years old and inherit $50,000 from your grandmother. If you wish to purchase a $92,550 boat to celebrate your 28th birthday, what compound annual rate of return must you earn? Use Appendix A to answer the question, Round your answer to the nearest whole number, 9

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