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(Solving for i) A financial planner just offered you a new investment product that would require an initial investment on your part of $50,000, and

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(Solving for i) A financial planner just offered you a new investment product that would require an initial investment on your part of $50,000, and would be worth $250,000 24 years from now. What annual rate of interest would you earn if you invested in this product? The annual rate of interest you would earn if you invested in this product is %. (Round to two decimal places.)

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