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Pinky Loanshark charges 0.5 point per week, that is, 0.5% per week on his loans. What APR must he report to his customers? What is

Pinky Loanshark charges 0.5 point per week, that is, 0.5% per week on his loans. What APR must he report to his customers? What is effective annual rate? Assume there are 52 weeks in a year.

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