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You just purchased an interesting investment in silicon chips for a total cost of $4,503. You expect to sell the entire investment in 88 months
You just purchased an interesting investment in silicon chips for a total cost of $4,503. You expect to sell the entire investment in 88 months for $9,200. Given it's riskiness, the expected return, E(r), on the investment is 8.5% when expressed as an EAR. Determine the effective IRR for this investment on a monthly basis. Express your answer as a PERCENT, not as a decimal, with at least 4 significant digits
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