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You are 20 years old and inherit $60,000 from your grandmother. If you wish to purchase a $111,050 boat to celebrate your 28th birthday, what
You are 20 years old and inherit $60,000 from your grandmother. If you wish to purchase a $111,050 boat to celebrate your 28th birthday, what compound annual rate of return must you earn? . Round your answer to the nearest whole number.
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