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John has just inherited $6,500 and immediately spent them purchasing an investment certificate. He decided to return to the University that he had left because

John has just inherited $6,500 and immediately spent them purchasing an investment certificate.

He decided to return to the University that he had left because of the financial problems. John

calculated that the interest rate a bank pays on his investment certificate would allow him to

accumulate required $7,600 over 4 years. What interest rate does a bank pay?

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