A bank advertises that it will pay a lump sum of 45,750 at end of 8 years to the investor who is depositing annually 4,000 for 8 years. What is the interest rate bank is paying?
A bank advertises that it will pay a lump sum of 45,750 at end of 8 years to the investor who is depositing annually 4,000 for 8 years. What is the interest rate bank is paying?
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