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Annuily due. Reginaid is aboul to lease an apartment for 12 monthe. The landiond wants him to make the losse payenents at the start of

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Annuily due. Reginaid is aboul to lease an apartment for 12 monthe. The landiond wants him to make the losse payenents at the start of the month. The monthly payments are $1,000 per month. What is the imoled monthy dacount rabe for the rent? (Round to two deomal places)

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