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You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 7.67 percent, compounded daily (

You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 7.67 percent, compounded daily ( with a 365 day year). What is the effective annual rate, or annual percentage yield of this loan. Round the answer to two decimal places in percentage form. Please show work.

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