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Barcain Credit Corp. wants to earn an effective annual return on Its consumer loans of 16 percent per year The bank uses dally compounding on

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Barcain Credit Corp. wants to earn an effective annual return on Its consumer loans of 16 percent per year The bank uses dally compounding on its loans. Required: What interest rate is the bank required by law required by law to report to potential borrowers? 16.00% 13.36% 16.33% 17.35% 14.85%

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