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For the following annuity due, determine the nominal annual rate of interest. Term Future Value Present Value $2,581 Periodic Rent $540 Payment Period Conversion Period

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For the following annuity due, determine the nominal annual rate of interest. Term Future Value Present Value $2,581 Periodic Rent $540 Payment Period Conversion Period monthly 1 year 4 years %. The nominal annual rate of interest is (Round to two decimal places as needed.)

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