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 10.03 percent,

Question 2(1 point)

You plan to apply for a loan from Bank of America. The nominal annual interest rate for this loan is 10.03 percent, compounded daily (with a 365-day year). What is the effective annual rate, or EAR (annual percentage yield), of this loan?

Round the answer to two decimal places in percentage form

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