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Ten years ago, Shylock borrowed $5,000 from the Merchant Bank of Venice at a nominal interest rate of 23.99% per year, but interest is compounded

  1. Ten years ago, Shylock borrowed $5,000 from the Merchant Bank of Venice at a nominal interest rate of 23.99% per year, but interest is compounded daily (assuming there are 365 days in a year). How much does he owe now?

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