The following rate X: 0.3% compounded weekly: A) What is the APR of X? B) What are

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The following rate "X": 0.3% compounded weekly:

A) What is the APR of X?

B) What are the APY of X?

C) When compared with rate "Y" that has EAR=16%, which rate would you pick if you were asked to borrow money at that rate for one year? Why?

Related Book For answer-question

Business Law and the Legal Environment

ISBN: 978-1285860381

7th edition

Authors: Susan S. Samuelson, Jeffrey F. Beatty

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Posted Date: Apr 14, 2023 12:13 AM

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The following rate X: 0.3% compounded weekly: A) What is the APR of X? B) What are

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Expert Answer:

A APR stands for Annual Percentage Rate which represents the nominal annual interest rate without ta... View the full answer

Business Law and the Legal Environment

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