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A property worth $20,000 is purchased for 10% down and payments of $188 at the end of every month for 10 years. What is the

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A property worth $20,000 is purchased for 10% down and payments of $188 at the end of every month for 10 years. What is the nominal annual rate of interest? The nominal annual rate of interest is approximately 1% compounded monthly (Round to two decimal places as needed.)

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