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Jones expects an immediate investment of $ 6 3 , 9 3 8 . 4 0 to return $ 1 2 , 0 0 0

Jones expects an immediate investment of $63,938.40 to return $12,000 annually for nine years, with the first payment to be received
one year from now. What rate of interest must Jones earn? (PV of $1, FV of $1, PVA of $1, and FVA of $1)(Use appropriate factor(s)
from the tables provided. Round "Table Factor" to 4 decimal places.)
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