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I can borrow from two different banks. One of them is charging me 6.75% APR compounded monthly and the other one charges me 6.65% APR
I can borrow from two different banks. One of them is charging me 6.75% APR compounded monthly and the other one charges me 6.65% APR compounded weekly. What is the effective annual rates for each one and which one should I choose?
Please explain and show calculations.
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