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What is the nominal annual rate of interest compounded monthly if a 12-year loan of $14,100 is repaid by monthly payments of $160 made at

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What is the nominal annual rate of interest compounded monthly if a 12-year loan of $14,100 is repaid by monthly payments of $160 made at the end of each month? The nominal annual rate of interest is % compounded monthly. (Round to two decimal places as needed.)

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