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A vacation property valued at $35,000 was bought for 80 payments of $ 884 due at the end of every 3 months. What nominal annual

A vacation property valued at

$35,000

was bought for

payments of

$ 884

due at the end of every

3 months.

What nominal annual rate of interest compounded

monthlymonthly

was charged?The nominal annual rate of interest is

---------%

compounded monthly.

(Round to two decimal places as needed.)

Enter your answer in the answer box.

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