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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

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 $19,616 to be accumulated in 4 years, quarterly payments of $1125 The interest rate needed is approximately %. (Type an integer or decimal rounded to two decimal places as needed.)

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