Number of days in a year = 365 days so if interest is compounded daily ,we will use n= 365days
EAR = [1+APR/n]^n -1
=[1+ .27/365 ]^365 -1
=[1+ .0007397]^365 -1
=[1.0007397]^365 -1
= 1.3098 -1
= .309821 or 30.9821% (rounded to 30.98%)
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