If the interest rate per day is 0.014%, then what is the annual rate?

Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 9MC: Will the effective annual rate ever be equal to the nominal (quoted) rate?
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If the interest rate per day is 0.014%, then what is the annual rate?

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