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You are considering the purchase of new living room furniture that costs $1,260. The store will allow you to make weekly payments of $27.43 for

You are considering the purchase of new living room furniture that costs $1,260. The store will allow you to make weekly payments of $27.43 for one year to pay off the loan. What is the EAR of this arrangment?

a.24.90%

b.29.61%

c.28.20%

d.23.65%

e.26.55%

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