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9. Your credit card statement reports an APR of 21%, with interest paid daily. What is the card's effective annual rate? Assume a 365-day year.

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9. Your credit card statement reports an APR of 21%, with interest paid daily. What is the card's effective annual rate? Assume a 365-day year. 10. You borrowed $23,000 from your friend and promised to pay her simple interest at 7.55%, with interest paid at the end of every quarter. Your agreement specifies a 360-day year. How much interest would you pay in any given quarter

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