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First Simple Bank pays 8.5 percent simple interest on ts investment accounts. If First Complex Bank pays interest on its accounts compounded annually, what rate

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First Simple Bank pays 8.5 percent simple interest on ts investment accounts. If First Complex Bank pays interest on its accounts compounded annually, what rate should the bank set If It wants to match Flrst Simple Bank over an investment horizon of 10 years? Do not round te calculations. Enter your answer as a percent rounded to 2 declmal places, e.g, 32.16.) Interest rate

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