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Assume you put $1200 into an account today at a bank and leave it there for 5 years. The bank promises that there will be

Assume you put $1200 into an account today at a bank and leave it there for 5 years. The bank promises that there will be $1440 in the account at the end of the five years. What is the stated rate of interest (APR) on the account if interest is compounded monthly?

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