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Mitchell made payments of 157 37 at the end of every month into a retirement...

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Mitchell made payments of 157 37 at the end of every month into a retirement fund which accumulated to 46 000 over 20 years a At what interest rate compounded monthly was the fund growing Assume that the interest rate remained constant throughout the term Round to two decimal places b At what interest rate would he have been able to accumulate the same 46 000 in only 11 years

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