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This Question: 1 pt 3 of 5 (0 complete) What is the nominal annual rate of interest compounded semi-annually if a 7-year loan of $4900

This Question: 1 pt 3 of 5 (0 complete) What is the nominal annual rate of interest compounded semi-annually if a 7-year loan of $4900 is repaid by semi-annual payments of $428 made at the end of every six months? The nominal annual rate of interest is % compounded semi-annually. (Round to two decimal places as needed.)

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