Question: you borrow $ 1 , 0 0 0 from gougo's a well known low consolidation outfit. The loan is an unbelievably low 3 . 5

you borrow $1,000 from gougo's a well known low consolidation outfit. The loan is an "unbelievably low" 3.5% per month compounded monthly. You have 2 years to pay off the loan. What is the nominal annual interest rate

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