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Bank Z is currently advertising interest rates on its checking account. They claim to pay an EAR of 4.50%, with daily compounding (assume 365 days

Bank Z is currently advertising interest rates on its checking account. They claim to pay an EAR of 4.50%, with daily compounding (assume 365 days per year).

A) What is the corresponding APR?

B) What is the effective rate per day?

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