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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 $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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