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The annual maintenance cost of a monument in the state capital is estimated to be $9478. A perpetual fund of $100,000 is set up to

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The annual maintenance cost of a monument in the state capital is estimated to be $9478. A perpetual fund of $100,000 is set up to pay for this maintenance expenditure. Determine the annual nominal interest rate of this fund earns if the interest is compounded quarterly. Input your response as a percentage (i.e. for example 7.1%) Round your answers to 1 decimal place

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