Hank made payments of 228 per month for 30 years to


Hank made payments of $228 per month for 30 years to purchase property. He promptly sold it for $222,144. What annual interest rate would he need to earn on an ordinary annuity for a comparable rate of return? (round to the nearest hundredth as needed)

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Finance Basics: Hank made payments of 228 per month for 30 years to
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