Question: Anders discovered an old pay statement from 11 years ago. His monthly salary at the time was $2,550 versus his current salary of $4.475 per

Anders discovered an old pay statement from 11 years ago. His monthly salary at the time was $2,550 versus his current salary of $4.475 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.) His salary grew at a rate of compounded annually. ces

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