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bigexternal bigexternal
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7 years ago
Shylock Bank offers a savings account with a nominal rate of 7% and daily compounding. What is the effective rate of the account? (Assume a 365 day year.)
A) 7.25%
B) 7.00%
C) 7.50%
D) 7.10%
E) 7.05%
Textbook 
Corporate Finance Online

Corporate Finance Online


Edition: 1st
Authors:
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We're using: Corporate Finance Online (Eakins, McNally)
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BlimpBlimp
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7 years ago
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1
Pol. Sci. Major
Minoring in Business
Columbia University Sophomore

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bigexternal Author
wrote...
#2
7 years ago
Firstly, thank you for responding
Secondly, ur right!
We're using: Corporate Finance Online (Eakins, McNally)
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