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Calculate the simple interest rate pa that must be earned for $20,000 invested on 17 May 2020 to be worth $22,821.25 on 14 November 2021.

Calculate the simple interest rate pa that must be earned for $20,000 invested on 17 May 2020 to be worth $22,821.25 on 14 November 2021. Give your answer as a percentage per annum to 2 decimal places.

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