Mathematics, 26.03.2020 06:02, itzdulceee

Kelly takes out a loan with a stated rate of 12% interest. If the interest is calculated weekly, how

much greater is Kelly's effective rate (the growth rate of compounded amount) than her stated

rate (the "stated" 12%)? Does the difference in effective rate and stated rate change

depending on 1 year or 10 years?

Answers: 3

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Kelly takes out a loan with a stated rate of 12% interest. If the interest is calculated weekly, how...