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Nine ( 9 ) years ago Bruce invested $ 1 , 6 0 0 . Today, the investment is worth $ 3 , 7 0

Nine

(9)

years ago Bruce invested $

1, 600 .

Today, the investment is worth $

3, 700 .

If interest is compounded annually, what annual rate of return did Bruce earn on his investment? Do not round intermediate calculations. Round your answer to one decimal place.

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