Axis Credit wants to earn an effective annual return on its consumer loans of 21.7%...
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Axis Credit wants to earn an effective annual return on its consumer loans of 21.7% per year. The financing company uses daily compounding on its loans. What interest rate is Axis required by law to report to potential borrowers? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
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