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Compute the nominal annual rate of interest for the following ordinary simple annuity. Payment Interval Present Value Periodic Rent $63,000.00 $3,800.00 6 months Term

Compute the nominal annual rate of interest for the following ordinary simple annuity. Payment Interval Present Value Periodic Rent $63,000.00 $3,800.00 6 months Term 15 years Conversion Period semi-annually % compounded semi-annually. The nominal annual rate of interest is (Round to two decimal places as needed.)

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