Solved: When you look closer it states that the interest is, Accounting Basics

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When you look closer it states that the interest is

1. Assume that you just received your credit card statement and the APR (Annual Percentage Rate) listed on your statement is 21.7%. When you look closer, it states that the interest is compounded daily. What is the EAR (or the Effective Annual Rate) on your credit card?

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Accounting Basics: When you look closer it states that the interest is

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