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The effective interest rate on your credit card is 3 4 percent. What is the equivalent nominal interest rate if interest compounds daily? ( EFF

The effective interest rate on your credit card is

34

percent. What is the equivalent nominal interest rate if interest compounds daily?

(

EFF

)

The equivalent nominal interest rate is percent.

(

Use the TI BA Il Plus financial calculator and enter your answer rounded to two decimal places.

)

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