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A property worth $18,000 is purchased for 10% down and payments of $688 at the end of every three months for 10 years. What is

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A property worth $18,000 is purchased for 10% down and payments of $688 at the end of every three months for 10 years. What is the nominal annual rate of interest? % compounded quarterly. The nominal annual rate of interest is approximately (Round to two decimal places as needed.)

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