Question: Anders discovered an old pay statement from 10 years ago. His monthly salary at the time was $3,200 versus his current salary of $5,260 per

Anders discovered an old pay statement from 10 years ago. His monthly salary at the time was $3,200 versus his current salary of $5,260 per month. At what (equivalent) compound annual rate has his salary grown during the period? (Do not round intermediate calculations and round your final percentage answer to 2 decimal places.)

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