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Find the interest rate needed for the sinking fund to reach the required amount Assume that the compounding period is the same as the payment

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Find the interest rate needed for the sinking fund to reach the required amount Assume that the compounding period is the same as the payment period $40,000 to be accumulated in 9 years, annual payments of $3554. The interest rate needod is approximately (Round to tro decimal places as needed.)

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