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You invest $1600 in an account paying 6.2% interest compounded daily. What is the account's effective annual yield? Assume 360 days in a year. The

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You invest $1600 in an account paying 6.2% interest compounded daily. What is the account's effective annual yield? Assume 360 days in a year. The account's effective annual yield is (Round to two decimal places as needed

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