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After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at 12 percent compounded

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After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at 12 percent compounded weekly or from a bank at 13 percent compounded daily. Which alternative is more attractive? If you can borrow funds from a finance company at 12 percent compounded weekly, the EAR for the loan is %. (Round to two decimal places.)

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