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What annual rate of return is earned on a $4,000 investment made in year 3 when it grows to $7,200 by the end of year

What annual rate of return is earned on a $4,000 investment made in year 3 when it grows to $7,200 by the end of year 7?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

Annual rate of return __%

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