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Find the interest rate for the given deposit and compound amount. $4900 accumulating to $5994.73, compounded monthly for 7 years. The interest rate is %.

Find the interest rate for the given deposit and compound amount. $4900 accumulating to $5994.73, compounded monthly for 7 years. The interest rate is \%. Do not round until the final answer. Then round to the nearest hundredth as needed.)

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