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To save for retirement, Karla Harby put $675 each month into an ordinary annuity for 15 years. Interest was compounded monthly. At the end of
To save for retirement, Karla Harby put $675 each month into an ordinary annuity for 15 years. Interest was compounded monthly. At the end of the 15 years, the annuity was worth $178,326. What annual interest rate did she receive? The interest rate she received was approximately .96. (Round to two decimal places as needed.)
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