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You are considering the purchase of new living room furniture that costs $1,240. The store will allow you to make weekly payments of $26.95 for

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You are considering the purchase of new living room furniture that costs $1,240. The store will allow you to make weekly payments of $26.95 for one year to pay off the loan. What is the EAR of this arrangment? Multiple Choice 26.16% 24.56% O 27.76% O 29.15% 23.33% O

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