Solve the problem.Find the effective rate if the nominal rate is 5.5% and interest is compounded daily (n = 365). (If r is the nominal rate and n is the number of times interest is compounded annually, then R = 
n - 1 is the effective rate.) Round to the nearest hundredth of a percent.
A. R = 6.15%
B. R = 5.40%
C. R = 5.65%
D. R = 5.90%
Answer: C
Mathematics
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Simplify.
A. 
B. 
C. 
D. 
Mathematics