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Anika deposits $1,300 into an account that pays 1.7% interest, compounded monthly. Complete the following table. (Format the answers like the example provided. Round to the nearest cent.)
Year Amount
1 $1322.27
2
3
6
7
8
What is the average rate of return from the end of the first year to the end of the third year?
What is the average rate of return from the end of the sixth year to the end of the eighth year?
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