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The annual effective interest rate on Rogelio's loan is 7.6%. What is the equivalent nominal discount rate convertible monthly on the loan? (Round your answer

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The annual effective interest rate on Rogelio's loan is 7.6%. What is the equivalent nominal discount rate convertible monthly on the loan? (Round your answer to two decimal places.) % What is the effective monthly discount rate? (Round your answer to two decimal places.) %

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