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QUESTION
Hank made payments of $143 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $ 1 3 0 , 4 0 1 ....
Hank made payments of $143 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $130,401.
What annual interest rate would he need to earn on an ordinary annuity for a comparable rate of return?
