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South Penn Trucking is financing a new truck with a loan of 10,000 to be repaid in 12 semiannual end of period installments of 1,263.65.

South Penn Trucking is financing a new truck with a loan of 10,000 to be repaid in 12 semiannual end of period installments of 1,263.65. What nominal interest rate is the company paying?

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