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You need to calculate the future value of an annuity that has the following characteristics: - Monthly instalment - 20 years - Interest rate (10%,2)

You need to calculate the future value of an annuity that has the following characteristics: - Monthly instalment - 20 years - Interest rate (10%,2) What is the value of the effective interest rate needed to solve for the future value of this annuity?

(Please solve using general annuity concepts and formulas)

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