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Rick, the owner of the local pawn shop, loans money at an annual rate of 21 percent, compounded daily. What is the effective annual interest

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Rick, the owner of the local pawn shop, loans money at an annual rate of 21 percent, compounded daily. What is the effective annual interest rate that Rick is charging? Multiple Choice 23.36 percent 23.07 percent 23.66 percent 22.99 percent 23.42 percent

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