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What is the effective daily rate

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Question: Afinancial lender wants to get an effective annual rate of 10%. the lender quotes a rate with continuous compounding to the borrower. what is the quoted rate? what is the effective daily rate(EDR). A- Quoted Rate=(eA financial lender wants to get an effective annual rate of 10%. The lender quotes a rate with continuous compounding to the borrower. What is the quoted rate? What is the effective daily rate (EDR)?

Reference no: EM133559800

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