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Alex deposits $6612 today and is promised to receive a (one time) fixed payback of...

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Alex deposits $6612 today and is promised to receive a (one time) fixed payback of $7409 at the end of the 7th year. What is the implied annual rate of return The implied annual rate of return is %. (Please retain at least 4 decimal places in your calculations and at least 2 decimal places in your final

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