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Bob invests $51,000 in an account on January 1, 2018. On December 31, 2018, the account balance has grown to $52,428. Compute the annual effective

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Bob invests $51,000 in an account on January 1, 2018. On December 31, 2018, the account balance has grown to $52,428. Compute the annual effective rate of interest for 2018. Give your answer to two decimal places. %

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