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3 A vacation property valued at $35,000 was bought for 80 payments of $884 due at the end of every 3 months. What nominal annual

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A vacation property valued at $35,000 was bought for 80 payments of $884 due at the end of every 3 months. What nominal annual rate of interest compounded monthly was charged? The nominal annual rate of interest is % compounded monthly. (Round to two decimal places as needed.)

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