Ask Question
2 March, 12:29

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?

+2
Answers (1)
  1. 2 March, 15:56
    0
    EAR

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

    = 25.85 percent
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “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 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers