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The effective annual rate for a credit card that charges a 19.9% APR compounded daily is _%. (Assume that there are 365 days in the

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The effective annual rate for a credit card that charges a 19.9% APR compounded daily is _%. (Assume that there are 365 days in the year.) (Please round to two decimal places, write the number only without "%". i.e. if the answer is "5%", write "5.00")

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