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Bill Padiey expects to invest $7,000 for 8 years, after which he wants to receive $8,201,90. What rate of interest must Padley earn? (PV of
Bill Padiey expects to invest $7,000 for 8 years, after which he wants to receive $8,201,90. What rate of interest must Padley earn? (PV of \$1. EV of \$1, PVA of \$1, and EVA of \$1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)
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