#$1$ A bank offers $7\mathrm{.}00\%$ on savings accounts. What is the effective annual rate if interest is compounded daily?

Answer format: Percentage Round to: $4$ decimal places $($Example:

Attemp

$9\mathrm{.}2434\%,\%$ sign required. Will accept decimal format rounded to $6$ decimal places $($ex: $0\mathrm{.}092434$