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Determine the nominal annual rate of interest of the following ordinary general annuity. Term Present Value $4600 Periodic Payment $787.91 Payment Interval Conversion Period monthly

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Determine the nominal annual rate of interest of the following ordinary general annuity. Term Present Value $4600 Periodic Payment $787.91 Payment Interval Conversion Period monthly 1 year 9 years The nominal annual rate of interest is % compounded monthly. (Round to two decimal places as needed.)

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