You just purchased an interesting investment in teak forests for a total cost of $3,275. You expect to sell the entire investment in 17.93 years for $32,526. Given it's riskiness, the expected return, E(r), on the investment is 5.2% when expressed as an EAR. Determine the effective IRR for this investment on a monthly basis. Express your answer as a PERCENT, not as a decimal, with at least 4 significant digits

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To find the effective Internal Rate of Return IRR for this investment on a monthly basis ... View the full answer