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For the following annuity due, determine the nominal annual rate of interest. Term Future Value Present Value $3,900 Periodic Rent $530 Payment Period 6 months

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For the following annuity due, determine the nominal annual rate of interest. Term Future Value Present Value $3,900 Periodic Rent $530 Payment Period 6 months Conversion Period quarterly 4 years The nominal annual rate of interest is %. (Round to two decimal places as needed.)

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