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Really struggling with this one. Any help is greatly appreciated. Thx! Bill is considering investing $450 at the end of every month in a fixed

Really struggling with this one. Any help is greatly appreciated. Thx!

Bill is considering investing $450 at the end of every month in a fixed income instrument. He will receive $27,000 at the end of four years. If interest is compounded monthly, what is the effective annual rate of return earned on the investment?

11.6%

22.3%

15.1%

11.1%

13.6%

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