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our insurance company is offering you an investment policy that will pay you $10,000 per year for 18 years. The company's sales department informed you

our insurance company is offering you an investment policy that will pay you $10,000 per year for 18 years. The company's sales department informed you that the policy will cost $120,000. At what interest rate would this be a fair deal? (Round your answer to two decimal places.)

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