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Question 5 An amount of $ 1 2 , 5 0 0 . 0 0 is deposited into an account today, it is expected to

Question 5
An amount of $12,500.00 is deposited into an account today, it is expected to increase to a maturity value of $13,360.03 in 3 years from now. What is the nominal interest rate compounded monthly? Round the answer to two decimal places.
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