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A bank loans money at an annual rate of 21 percent. Interest is compounded daily. What is the actual rate (EAR) the bank is charging

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A bank loans money at an annual rate of 21 percent. Interest is compounded daily. What is the actual rate (EAR) the bank is charging on the loan? Multiple Choice 23.36 percent 22.99 percent 23.66 percent 23.42 percent 23.07 percent

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