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Jean-Luc's first month's gross salary in June 1994 was $800. By June 2012 his monthly gross salary was $1,969.23 higher. What monthly compounded rate did

Jean-Luc's first month's gross salary in June 1994 was $800. By June 2012 his monthly gross salary was $1,969.23 higher. What monthly compounded rate did his salary increase by over the period?

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