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A mortgage of $104,000 is amortized over 15 years by monthly payments of $903.80. What is the nominal annual rate of interest compounded semi-annually? The

A mortgage of $104,000 is amortized over 15 years by monthly payments of $903.80. What is the nominal annual rate of interest compounded semi-annually?

The nominal annual rate of interest is___%.?

(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

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