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Professor's Annulty Corp. offers a lifetime annulty to retiring professors. For a lump payment today of $101,926.9, the firm will pay the retiring professor $13,200

image text in transcribed Professor's Annulty Corp. offers a lifetime annulty to retiring professors. For a lump payment today of $101,926.9, the firm will pay the retiring professor $13,200 per year for 10 years. What is the Interest rate on the annulty? (Do not round Intermedlate calculations. Round your answer to 2 decimal places.) %

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