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A mortgage of $ 3 8 , 0 0 0 is repaid by making payments of $ 2 7 0 at the end of cach

A mortgage of $38,000 is repaid by making payments of $270 at the end of cach month for 13 years. What is the nominal annual rate of interest compounded annually?
The nominal annual rate of interest is % compounded annually.
(Round to two decimal places as needed.)
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