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Review Exercise 14 Question Help Debra is considering taking out a membership in her local fitness club. If she pays for a two-year membership in
Review Exercise 14 Question Help Debra is considering taking out a membership in her local fitness club. If she pays for a two-year membership in advance, the cost is $698. If she makes monthly payments over the same two years, she would have to pay $34 at the beginning of each month. What is the monthly compounded nominal rate charged for the payment plan? The nominal rate is % compounded monthly. (Round to four decimal places as needed.)
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