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If your credit card company tells you that the interest rate is 0.262, what is the effective rate if it is compounded daily? (Remember, as

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If your credit card company tells you that the interest rate is 0.262, what is the effective rate if it is compounded daily? (Remember, as an example 5.00% equals 0.0500). Your answer has to be in decimal form, in this example your answer would be 0.0500)

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