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A Bank is offering you a loan with an annual rate of 10% compounded weekly. What is the effective annual rate you will be paying

A Bank is offering you a loan with an annual rate of 10% compounded weekly. What is the effective annual rate you will be paying if you take the loan?

a. 11.07%

b. 9.77%

c. 10.00%

d. 10.51%

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