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had $20,000 in his investment account on August 15, 2019. On August 15, 2020 his balance was $21,200 and he deposited an additional $5,000, giving

had $20,000 in his investment account on August 15, 2019. On August

15, 2020 his balance was $21,200 and he deposited an additional $5,000, giving him a

new balance of $26,200. On August 15, 2021, Clays account had a balance of $27,300.

Assuming that there are no other contributions to the account,

Calculate the annual effective internal rate of return

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