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You recently paid $13,275 for an investment that promises to pay $675 at the end of each of the next 6 years, then an additional

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You recently paid $13,275 for an investment that promises to pay $675 at the end of each of the next 6 years, then an additional lump sum payment of $17,500 at the end of the 6 th year. What is the expected rate of retum on this investment? a. 10.52% b. 9.28% c. 13.19% d. 12.26% e. 11.34%

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