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Bill Padley expects to invest $7,000 for 9 years, after which he wants to receive...

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Accounting

Bill Padley expects to invest $7,000 for 9 years, after which he wants to receive $10,859.10. What rate of interest must Padley earn? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)

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