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Your friendly neighbourhood loan shark offers you a loan for the low, low rate of 14.5% compounded daily. What's the equivalent of this rate, expressed

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Your friendly neighbourhood loan shark offers you a loan for the low, low rate of 14.5% compounded daily. What's the equivalent of this rate, expressed as an annually compounded rate? (Note: Set your calculator to 4 decimal places.) 16.21% Cannot be determined based on the information in the question 15.04% 15.60%

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