Question: Anders discovered an old pay statement from 12 years ago. His monthly salary at the time was $2700 versus his current salary of $4820 per

Anders discovered an old pay statement from 12 years ago. His monthly salary at the time was $2700 versus his current salary of $4820 per month. At what (equivalent) compound annual rate has his salary grown during the period?

His salary grew at a rate of % compounded annually.

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