Question: An entrepreneur requests a loan for $1,000,000 for a term of 18 bimonthly periods (periods of 2 months each ), for which he must pay

An entrepreneur requests a loan for $1,000,000 for a term of 18 bimonthly periods (periods of 2 months each ), for which he must pay $1,718,411.39. What is the nominal interest rate that is capitalized each two-month period that the bank charges?

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