fkaylaburk fkaylaburk

18-07-2021
Business

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What is the APR on a loan with an effective annual rate of 15.26% and weekly compounding of interest?

Respuesta :

madethisfortwitch1 madethisfortwitch1

18-07-2021

Answer:

14.22%

Explanation:

Assuming 52 weeks in a year

[tex](1+.1526)=(1+i)^{52}\\i=.002734892\\.002734892*52=.142214377[/tex]

Which rounds to about

14.22%

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