Ask Question
13 March, 00:19

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?

+5
Answers (1)
  1. 13 March, 00:31
    0
    EAR

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

    = 25.85 percent
Know the Answer?
Not Sure About the Answer?
Find 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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers