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You invest in a mortgage which offers an APY of 7.00%, what is the Effective Annual Rate (EAR or APR) given daily compounding? a. 107.25%

You invest in a mortgage which offers an APY of 7.00%, what is the Effective Annual Rate (EAR or APR) given daily compounding?

		a. 107.25%
		b. 7.25%
		c. 0.02%
		d. 107.23%

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