Question: Cullumber Enterprises would like to have $ 1 , 0 8 0 , 0 0 0 saved up in 8 years to fund equipment and

Cullumber Enterprises would like to have $1,080,000 saved up in 8 years to fund equipment and building upgrades. If Cullumber invests $182,000 today and commits to depositing $50,400 at the end of each of the next 8 years, what annual interest rate must the fund earn to reach $1,080,000?(Do not round intermediate calculations. Round final answer to 2 decimal places, e.g.
What is the annual interest rate?

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