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John invested $10,000 into a money market account and took out $2,000 at the end of year 1. He found out at the end of

John invested $10,000 into a money market account and took out $2,000 at the end of year 1. He found out at the end of 7 years that the rest of the money in the account grew to a sum of $29,860. What is the annual interest rate John earned in this investment?

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