Answers26-27 Ignite Technical Math-Financial Math - MA2007Interest Rates

Interest Rates Answers

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Joel takes out a loan with a stated rate of 11.85% interest. If the interest is calculated weekly, how much greater is Joel’s effective rate than his stated rate?

A
0.72 percentage points
B
0.52 percentage points
C
0.70 percentage points
D
0.67 percentage points

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