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Hank made payments of $129 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold
Hank made payments of $129 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $125,210. What interest rate, compounded monthly, would he need to earn on an ordinary annuity for a comparable rate of return? % (Round to the nearest hundredth as needed.)
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