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Assume an investor makes an investment of US$ 5 1 , 5 9 3 and will receive US$ 4 0 0 at the end of

Assume an investor makes an investment of US$

51, 593

and will

receive US$

400

at the end of each month for the next

20

years. What annual rate of return, compounded monthly

would be earned on the US$

51, 593

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