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What annual rate of return is earned on a $ 4 , 0 0 0 investment made in year 3 when it grows to $

What annual rate of return is earned on a $4,000 investment made in year 3 when it grows to $8,600 by the end of year 9?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Annual rate of return
%
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