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If you have $9,664 right now and want to buy a boat that you estimate will cost $20,475 in 12 years, what annual rate would

If you have $9,664 right now and want to buy a boat that you estimate will cost $20,475 in 12 years, what annual rate would you need to earn to have enough to buy the boat at that time? (assume quarterly compounding and round your answer to 2 decimal places)

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