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Property worth $325,500.00 can be purchased for 10% down and monthly mortgage payments of $1750.00 for 30 years. What effective annual rate of interest is

Property worth $325,500.00 can be purchased for 10% down and monthly mortgage payments of $1750.00 for 30 years. What effective annual rate of interest is charged?

The effective annual rate of interest 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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