Answers: 3
![=[(1+(\frac{Nominal\ Rate}{n} ))^{n})-1]](/tpl/images/0509/7861/9aca6.png)
![=[(1+(\frac{0.08}{365} ))^{365})-1]\\=[(1.00022)^{365}-1]\\=[1.0833-1]\\=0.0833\\\approx8.33\%](/tpl/images/0509/7861/6cefc.png)
![The\ Effective \ Rate \ of \ Return = [1+\frac{Nominal Rate}{n}]^n-1\\=[1+\frac{0.08}{365} ]^{365}-1\\=[\frac{365.08}{365} ]^{365}-1\\=(1.00021918)^{365}-1\\=1.08327833-1\\=0.08327833](/tpl/images/0509/7861/57384.png)
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