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A vacation property valued at $32,000 was bought for 240 payments of $262 due at the end of every month. What nominal annual rate of

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A vacation property valued at $32,000 was bought for 240 payments of $262 due at the end of every month. What nominal annual rate of interest compounded annually was charged? The nominal annual rate of interest is % compounded annually. (Round to two decimal places as needed.)

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