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Friendly Credit Corp.wants to earn an effective annual return on its consumer loans of 13 percent per year. The bank uses weekly compounding on its

Friendly Credit Corp.wants to earn an effective annual return on its consumer loans of 13 percent per year. The bank uses weekly compounding on its loans. What interest rate is the bank required by law to report to potential borrowers? a. 12.22% b. 12.24% c. 12.26% d. 12.28% e. 12.30%

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