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Bill Padley expects to invest $16,000 for 10 years, after which he wants to receive $26,062.40. What rate of interest must Padley earn? (PV of

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Bill Padley expects to invest $16,000 for 10 years, after which he wants to receive $26,062.40. What rate of interest must Padley earn? (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Future Value Present Value Table Factor Interest Rate

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