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What is the nominal annual rate of interest compounded semi-annually on a lease valued at $22,499.00, if payments of $4500.00 are made at the beginning

What is the nominal annual rate of interest compounded semi-annually on a lease valued at $22,499.00, if payments of $4500.00 are made at the beginning of every year for 6 years?

The nominal annual rate of interest is_______ %.

(Round to two decimal places asneeded.)

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