Question

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

Answer 1

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%