Solved: You have a choice of borrowing money from a finance company, Business Economics

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You have a choice of borrowing money from a finance company

You have a choice of borrowing money from a finance company at 24 percent compounded weekly or borrowing money from a bank at 25 percent compounded semiannually. What is the effective annual rate (EAR) of each loan? Which alternative is the most attractive?

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Business Economics: You have a choice of borrowing money from a finance company

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