Ciiff Just agreed to a $40,000 loan from a loan shark. The loan requires weekly...
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Accounting
Ciiff Just agreed to a $40,000 loan from a loan shark. The loan requires weekly payments of $600 per week ( $2 weeks per year) for the next three years. What are the annual rate (APR) and effective annual rate (EAR) of interest on the loan? APR does not exist: EAR does not exivt APR 58.36\%:EAR 95.75\% APR 5836 EAR 7866% APA 67. 6OXC EAR 78.66% APR 67.60%:EAR9575%
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