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For the following annuity due, determine the nominal annual rate of interest. Future Value Term Present Value Periodic Rent $240 Payment Period 3 months Conversion

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For the following annuity due, determine the nominal annual rate of interest. Future Value Term Present Value Periodic Rent $240 Payment Period 3 months Conversion Period monthly $8,325 6 years ..... The nominal annual rate of interest is 2%. (Round to two decimal places as needed.)

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