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A pension fund is making an investment of $132,000 today and expects to receive $1,920...

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Finance

A pension fund is making an investment of $132,000 today and expects to receive $1,920 at the end of each month for the next five years. At the end of the fifth year, the capital investment of $132,000 will be returned. Required: What is the internal rate of return compounded annually on this investment? Note: Do not round intermediate calculations and round your final answer to 1 decimal place. IRR %?

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