What is the effective annual interest rate
Effective annual interest rate: Cyclone Rentals borrowed $15,550 from a bank for three years. If the quoted rate (APR) is 6.75 percent, and the compounding is daily, what is the effective annual interest rate (EAR)?
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effective annual interest rate cyclone rentals borrowed 15550 from a bank for three years if the quoted rate apr is 675
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