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Compute the nominal annual rate of interest for the following simple annuity due. Future Value Present Value $58,000 Periodic Payment Rent Period $1,000.00 6 months

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Compute the nominal annual rate of interest for the following simple annuity due. Future Value Present Value $58,000 Periodic Payment Rent Period $1,000.00 6 months Term Conversion Period 17 years semi-annually - The nominal annual rate of interest is %. (Round to two decimal places as needed.)

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