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Victoria saved $ 2 4 0 every six months for eight years. What nominal rate of futerest compounded monthly is earned if the savings account

Victoria saved $

240

every six months for eight years. What nominal rate of futerest compounded monthly is earned if the savings account amounts to s

4070

in eight years?

The nominal annual rate of interest is

%

compounded monthly.

(

Round to two decimal places as needed.

)

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