You are considering the purchase of new living room furniture that costs $$1,100.$ The store will allow you to make weekly payments of $$24\mathrm{.}15$ for one year to pay off the loan. What is the EAR of this arrangment?

Multiple Choice

$25\mathrm{.}31\%$

$28\mathrm{.}54\%$

$26\mathrm{.}64\%$

$31\mathrm{.}96\%$

$30\mathrm{.}43\%$