A local bank will pay you 105 at the end of each year for, Financial Management

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A local bank will pay you 105 at the end of each year for

A local bank will pay you $105 at the end of each year for your lifetime if you deposit $1,200 in the bank today. If you plan to live forever, what interest rate is the bank paying? (Enter your answer as a percent rounded to 2 decimal places.)

Interest rate %

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