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(1 point) A renter with $ 1121.78 has a one year lease. The landlord is willing to accept two payment options $ 1121.78 now, or i) S 100 at the beginning of each month for twelve months. What nominal annual interest rate compounded monthly would be required for the two options to have the same present value? Annual nominal interest rate %2

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NPER number of a payment periods monthly payments pmt- pv one time lease payment rate per period - rate 12 $100.00 $1,121.78

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