American Eagle Financial Sources, which makes small loans to college students,offers to lend a student $500. The
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American Eagle Financial Sources, which makes small loans to college students,offers to lend a student $500. The borrower is required to pay $38 at the end of each week for 16 weeks. Find the interest rate per week. What is the nominal interest rate per year? What is the effective interest rate per year?
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Given P 500 A 38 N 16 weeks 500 38P A i ...View the full answer
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