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You are considering the purchase of new living room furniture that costs $1,500. The store will allow you to make weekly payments of $32.05 for

You are considering the purchase of new living room furniture that costs $1,500. The store will allow you to make weekly payments of $32.05 for one year to pay off the loan. What is the EAR of this arrangment? 24.57% 20.02% 21.07% 22.24% 23.40%

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