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Assume you invest $200 monthly into your retirement account for 40 years. The account is expected to return 8%. Assuming annul compounding, which annual interest

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Assume you invest $200 monthly into your retirement account for 40 years. The account is expected to return 8%. Assuming annul compounding, which annual interest rate (divided by 12) do you have to use in Excel for "Rate" to solve this problem? 8.3% 7.72% O None of the answers is correct 7.85% 08%

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