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Whats the interest rate of a 8-year, annual $3,500 annuity with present value of $20,000? (Use a time value of money calculator or a spreadsheet.

Whats the interest rate of a 8-year, annual $3,500 annuity with present value of $20,000? (Use a time value of money calculator or a spreadsheet. Round your answer to 2 decimal places.)

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