Question: Tanisha Sharma 11//06//23 7:35 PM This test: 7 point(s) Question 4 of 7 possible This question: 1 point(s) possible Surinder borrowed $1200.00 and agreed to

Tanisha Sharma 11//06//23 7:35 PM This test: 7 point(s) Question 4 of 7 possible This question: 1 point(s) possible Surinder borrowed $1200.00 and agreed to pay $2778.78 in settlement of the debt in four years, nine months. What annual nominal rate compounded monthly 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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