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4.4 Student Emergency Services, which makes small loans to college students, offers to lend $550. The borrower is required to pay $42 at the end

4.4 Student Emergency Services, which makes small loans to college students, offers to lend $550. The borrower is required to pay $42 at the end of each week for 16 weeks. Find the interest rate per week. What is the nominal interest rate per year? What is the effective interest rate per year?

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