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A vacation property valued at $44,000 was bought for 100 payments of $1200 due at the end of every 3 months. What nominal annual rate

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A vacation property valued at $44,000 was bought for 100 payments of $1200 due at the end of every 3 months. What nominal annual rate of interest compounded monthly was charged? The nominal annual rate of interest is % compounded monthly. (Round to two decimal places as needed.)

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