Answer:
APR = 416%
EAR = 5370.60%
Step-by-step explanation:
Given:
Interest rate = 7.8% per week
Now,
In an year there are total 52 weeks
thus,
The APR (Annual percentage rate) = Interest rate × Total weeks in an year
or
APR = 8% × 52
or
APR = 416%
and, EAR ( Effective Annual Rate ) = ( 1 + r )ⁿ - 1
Here,
r is the interest rate per week
n is the total weeks in an year
thus,
EAR ( Effective Annual Rate ) = ( 1 + 8% )⁵² - 1
= ( 1 + 0.08 )⁵² - 1
= 53.7060
or
53.7060 × 100% = 5370.60%
Answer: (10,9) is the correct answer.
The answer is 3 for this question.
It might be A
Example: I tried to do the math and i came out with 1/20 so try it. i’m very sorry if it’s wrong
