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You are considering the purchase of new living room furniture that costs $1,120. The store will allow you to make weekly payments of $24.64 for

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You are considering the purchase of new living room furniture that costs $1,120. The store will allow you to make weekly payments of $24.64 for one year to pay off the loan. What is the EAR of this arrangment? 30.99% 25.71% 29.03% 27.06% 32.54%

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