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Microsoft's stock price peaked at 6118% of its IPO price more than 13 years after the IPOT Suppose that $25,000 invested in Microsoft at
Microsoft's stock price peaked at 6118% of its IPO price more than 13 years after the IPOT Suppose that $25,000 invested in Microsoft at its IPO price had been worth $1,500,000 (6000% of the IP price) after exactly 13 years. What interest rate, compounded annually, does this represent? (Round your answer to two decimal places.)
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