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Assume you have a total of $44,500 to invest and want to receive an annuity of $6,200 for 20 years. What interest rate do you

Assume you have a total of $44,500 to invest and want to receive an annuity of $6,200 for 20 years.

What interest rate do you have to earn on the $44,500 investment in order to receive the annual payments? (Round your answer to 2 decimal places. For example, enter .1234 as 12.34)

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