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Property worth $249,000.00 can be purchased for 8% down and mortgage payments of $1500.00 at the end of each month for 25 years. What is

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Property worth $249,000.00 can be purchased for 8% down and mortgage payments of $1500.00 at the end of each month for 25 years. What is the nominal annual rate of interest compounded monthly? The nominal annual rate of interest compounded monthly is %. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

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