Question 11, 13.3.19 Points: 0 of 1 Save At Petruske's Warehouse, the forklift needs major repair. A new forklift can be purchased at a current cost of $29,000. If the new forklift is purchased, month-end payments of $690 would start in two years, and continue for five years. Interest for the first two years is charged at 9.2% compounded annually. What is the monthly compounded interest rate for the payment period? The monthly compounded interest rate is % (Round to two decimal places as needed.)