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Find what is the effective annual rate

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Reference no: EM132902523

Problem 1: If the annual percentage rate (APR) is 12% and the compounding period is daily, what is the effective annual rate (EAR)? Enter your answer as a percentage. Do not include the percentage sign in your answer. Do not round the decimal number after you have performed the division of the interest rate.

Reference no: EM132902523

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