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Problem #2: A mortgage is being paid with level monthly payments, which pay off the interest for that month, and provide some repayment of the

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Problem #2: A mortgage is being paid with level monthly payments, which pay off the interest for that month, and provide some repayment of the principal. If the principal repayment in two successive months is $2400.00 and $2409.80 what is the nominal annual interest rate? Answer as a percentage, correct to 2 decimals. Problem #2

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