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For the following annuity due, determine the nominal annual rate of interest. Future Value - Present Value $4.200 Periodic Rent $380 Payment Period 1 year

For the following annuity due, determine the nominal annual rate of interest.

Future Value

Present Value

$4.200

Periodic Rent

$380

Payment Period

1 year

Term

15 years

Conversion Period

quarterly

The nominal annual rate of interest is __ %

(Round to two decimal places as needed.)

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