Answer :
Answer:
13.73%
Explanation:
Effective annual rate = (1 + APR / m ) ^m - 1
M = number of compounding = 365
[tex](1 + \frac{0.1287}{365} )^{365} - 1[/tex]
[tex](1.000353)^{365} - 1[/tex] = 0.1373 = 13.73%
Answer:
13.73%
Explanation:
Effective annual rate = (1 + APR / m ) ^m - 1
M = number of compounding = 365
[tex](1 + \frac{0.1287}{365} )^{365} - 1[/tex]
[tex](1.000353)^{365} - 1[/tex] = 0.1373 = 13.73%