hannahcolosimo982 hannahcolosimo982

26-02-2018
Business

contestada

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?

Respuesta :

AinZulkifli AinZulkifli

26-02-2018

EAR

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

= 25.85 percent

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