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7. An interest rate compounded twice a year yields an EAR of 5%. This rate is equivalent to what APR compounded daily? Assume 365 days

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7. An interest rate compounded twice a year yields an EAR of 5%. This rate is equivalent to what APR compounded daily? Assume 365 days in a year. A. 4.88% B. 9.76% C. 10,00% D. 10.25% E. None of the above is correct

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