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Your credit card has a stated rate or APR of 21% with daily compounding. Assuming there are 360 compounding days, what rate are you effectively

Your credit card has a stated rate or APR of 21% with daily compounding. Assuming there are 360 compounding days, what rate are you effectively paying (effective annual rate) on your credit card? 23.14% 23.36% 21.00% 5.84%

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