Question: Question 2 (1 point) You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 10.91

Question 2 (1 point) You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 10.91 percent, compounded daily (with a 365-day year). What is the effective annual rate,br EAR (annual percentage yield), of this loan? Round the answer to two decimal places in percentage form. (Write the percentage sign m the "units" box)

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