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Please don't skip steps You are considering the purchase of new living room furniture that costs $1,200. The store will allow you to make weekly

Please don't skip steps

You are considering the purchase of new living room furniture that costs $1,200. The store will allow you to make weekly payments of $26.18 for one year to pay off the loan. What is the EAR of this arrangment?

25.34%
27.05%
30.20%
28.76%
24.07%

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