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Annual interest compounded weekly

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Reference no: EM131720751

Suppose that you are planning to take out a car loan, and can borrow money at 7.8% annual interest compounded weekly. If you believe that you can afford to make a $50 payment at the end of each week, and intend to be finished paying off the loan 3 years from now, how much can you borrow now?

Reference no: EM131720751

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