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You want to borrow $500 from your cousin Vinny. He gives you the special family rate of 1% per week. What are the APR and EAR on this loan? Multiple Choice 52%; 52% 52%; 60.10% 67.77%; 52% 52%; 67.77% 60.10%; 52% Show me all the calculation steps

You want to borrow $500 from your cousin Vinny. He gives you the special family rate of 1% per week. What are the APR and EAR on this loan? Multiple Choice 52%; 52% 52%; 60.10% 67.77%; 52% 52%; 67.77% 60.10%; 52% Show me all the calculation steps

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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You want to borrow $500 from your cousin Vinny. He gives you the special family rate of 1% per week. What are the APR and EAR on this loan?

Multiple Choice
  •  
    52%; 52%
  •  
    52%; 60.10%
  •  
    67.77%; 52%
  •  
    52%; 67.77%
  •  
    60.10%; 52%

Show me all the calculation steps 

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