A bank account pays an annual interest rate (APR) of 7% with daily compounding. What...
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Finance
A bank account pays an annual interest rate (APR) of 7% with daily compounding. What is the account's effective annual rate (EAR)? Assume a 365-day year. Enter your answer as a decimal and show 4 decimal places. For example, if your answer is 6.5%, enter .0650
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