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What is the effective annual rate (EAR) of a 6 percent annual stated rate that is compounded daily (assume 365 days per year)? Group of

What is the effective annual rate (EAR) of a 6 percent annual stated rate that is compounded daily (assume 365 days per year)?

Group of answer choices

6.1364%

6.1831%

6.1678%

None of these are correct.

6.0900%

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