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Suppose that you are offered an investment that will cost $898 and will pay you interest of $70 per year for the next 20 years.

Suppose that you are offered an investment that will cost $898 and will pay you interest of $70 per year for the next 20 years. Furthermore, at the end of the 20 years, the investment will pay $1,000. If you purchase this investment, what is your compound annual rate of return?

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