A credit card company advertises an APR of 14.7%, compounded daily. What is the effective interest rate? Round your answer to two decimal places.

16%

Explanation:

Effective interest rate  = (1 + i/m)^m  - 1

                                    = (1 + 0.147/365)^365  - 1

                                    = 0.1583

                                    = 0.16 = 16%

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;