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Your credit card says it charges 15.5% APR with daily compounding. What real annual rate are they charging? That is, find the effective annual rate

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Your credit card says it charges 15.5% APR with daily compounding. What real annual rate are they charging? That is, find the effective annual rate (EAR). Express in percentage but do not include the % sign, and round it to two decimal places, e.g., 9.45 (for.0945 or 9.45%) Your Answer: Answer D View hint for Question 2

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