Rational numbers are always,sometimes, never natural numbers?
1 answer:
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Answer:
The answer is 8.24%.
Step-by-step explanation:
The rate r = 8% is for 1 year or 52 weeks.
As given there are 13 weeks term so total there will be = 4 terms.
So, n = 4
The effective interest rate R is given by:
R =
=
=
= 0.0824
And in percentage, it is 8.24%.