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You were just informed of the interest rate on your student loan. It is stated as 0 . 2 % per month. NOTE: This is

You were just informed of the interest rate on your student loan. It is stated as

0.2 %

per month.

NOTE: This is a multi

-

part question. Once an answer is submitted, you will be unable to return to this part.

Determine the nominal interest rate

r

per semiannual period.

The nominal interest rate

r

% .

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