[Solved] Your company borrowed $45,000 from a bank

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Your company borrowed $45,000 from a bank. If the quoted rate (APR) is 13.4% and interest is compounded daily, what is the effective annual rate

Your company borrowed $45,000 from a bank. If the quoted rate (APR) is 13.4% and interest is compounded daily, what is the effective annual rate (EAR)?

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