effective yearly rate =10947544.25%, written format please

1. ) Suppose you plan to borrow $10,000 under the terms set out in the leaflet for one year (counted as 52 weeks according to the loan contract).

2. If you make no interest or principal repayments during the period, how much will you have to repay in 52 weeks and how much interest in total will you have to pay for the loan? [Note: Round the final answer to an integer.] (6 marks)

i) If you pay interest every week (but make no principal repayment), how much interest in total will you have to pay to the finance company? (3 marks)

ii) Suppose the finance company allows you to repay the loan over a one-year period with weekly payments. [Note: How many payments will you have to make to pay off the loan in exactly one year?]

• - How much will the weekly payment be? Assume the first payment starts today. (5 marks)

• - How much interest in total (direct and indirect) will you have to pay for the loan? [Note: Round the final answer to an integer.] (5 marks)