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For the following annuity due, determine the nominal annual rate of interest. Term Future Value Present Value $2,400 Periodic Rent $350 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 $2,400 Periodic Rent $350 Payment Period Conversion Period semi-annually 1 year 8 years The nominal annual rate of interest is %. (Round to two decimal places as needed.)

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