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Determine the nominal annual rate of interest of the following ordinary general annuity. Future Value $ 1 0 , 0 0 0 Periodic Payment $

Determine the nominal annual rate of interest of the following ordinary general annuity.

Future Value

10, 000

Periodic

Payment

375

Payment

Interval

3

months

Term

5

years

Conversion

Period

monthly

The nominal annual rate of interest is

%

compounded monthly.

(

Round to two decimal places as needed.

)

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