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If a $ 1 5 , 0 0 0 investment grew to $ 2 1 , 8 0 5 in 4 ( 1 ) /

If a $15,000 investment grew to $21,805 in 4(1)/(2) years of quarterly compounding, what effective rate of return was the investment earning? (Do not round the intermediate calculations. Round your answer to two decimal places.)
Effective rate
%

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