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If Like A Lot Corp. borrows yen at a nominal annual interest rate of 2.31% and during the year the yen appreciates by 9.62%, what

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If Like A Lot Corp. borrows yen at a nominal annual interest rate of 2.31% and during the year the yen appreciates by 9.62%, what will the effective annual interest rate be for the loan? The effective annual interest rate, E, is (Round to two decimal places.)

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