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Find the annual percentage yield (APY) for an investment that earns 1.85% compounded daily (meaning 250 times per year). Show your calculation, USING A FORMULA.

Find the annual percentage yield (APY) for an investment that earns 1.85% compounded daily (meaning 250 times per year). Show your calculation, USING A FORMULA. Give an answer as a percentage, accurate to two decimals (e.g. 3.92%).

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