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A loan of exist2, 700 for a new, high-end laptop computer is to be repaid in 12 end-of-month payments (starting one month from now). The

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A loan of exist2, 700 for a new, high-end laptop computer is to be repaid in 12 end-of-month payments (starting one month from now). The monthly payments are determined as follows. What nominal and effective interest rates per year are actually being paid? The nominal interest rate is % per year.(Round to one decimal place.)

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