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Surinder borrowed $1500.00 and agreed to pay $1644.06 in settlement of the debt in four...

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Accounting

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Surinder borrowed $1500.00 and agreed to pay $1644.06 in settlement of the debt in four years, six months. What annual nominal rate compounded semi-annually was charged on the debt? The nominal annual rate of interest is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

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