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What is the ear of loan-vito corleone

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Reference no: EM132506260

Vito Corleone will loan you money on a 15-for-16 arrangement; i.e., for every $15 he gives you today, you give him $16 one week from now. What is the EAR of this loan? Assume that there are 52 weeks in a year.

Reference no: EM132506260

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