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What is the APR on a loan with an effective annual rate of 15.26% and weekly compounding of interest?

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asked Jan 21, 2022 53.6k views

1 vote

What is the APR on a loan with an effective annual rate of 15.26% and weekly compounding of interest?

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Xta asked

by Xta

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1 Answer

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Answer:

14.22%

Step-by-step explanation:

Assuming 52 weeks in a year

$(1+.1526)=(1+i)^(52)\\i=.002734892\\.002734892*52=.142214377$

Which rounds to about

14.22%

Takiya answered Jan 26, 2022

by Takiya

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What is the APR on a loan with an effective annual rate of 15.26% and weekly compounding of interest?

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