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Compute the nominal annual rate of interest for the following simple annuity due. Future Value Term Present Value Periodic Rent Payment Period Conversion Period $17,000

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Compute the nominal annual rate of interest for the following simple annuity due. Future Value Term Present Value Periodic Rent Payment Period Conversion Period $17,000 $779.24 1 year 12 years annually The nominal annual rate of interest is %. (Round to two decimal places as needed.)

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