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Wade just agreed to a $30,000 lan from a loan shark. The loan requires weekly payments of $250 per week (52 weeks per year for
Wade just agreed to a $30,000 lan from a loan shark. The loan requires weekly payments of $250 per week (52 weeks per year for the next four years. What are the annual rate (APR) and effective annual rate (EAR) of interest on the loan? O APR 30.49% EAR 35.53% O APR 30.49 %; EAR 30.01% O APR 26.31% EAR 30.01% O APR 26.31%; EAR 35.53% O APR does not exist; EAR does not exist
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