hannahcolosimo982 hannahcolosimo982

26-02-2018
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Mr. miser loans money at an annual rate of 22 percent. interest is compounded daily. what is the actual rate mr. miser is charging on his loans?

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AinZulkifli AinZulkifli

26-02-2018

EAR

= [1 + (0.23 / 365)]365 - 1

= 25.85 percent

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