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Suppose the present value of $ 9 5 0 to be received 1 2 years from today is $ 4 8 9 . What is

Suppose the present value of $

950

to be received

12

years from today is $

489 .

What is the annual interest rate that is being used to calculate the present value? Express your answer rounded and accurate to FOUR decimal places.

(

.

., 12.1583 %

would be expressed correctly as

0.1216) .

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