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What is the Effective Annual Rate

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Question - Dwight Schrute offers Andy Bernard the opportunity to purchase a "complete personal security system" on the following terms: $85 per week for 78 weeks. If Schrute would normally sell the surveillance equipment for $3000, what is the Effective Annual Rate (EAR) that is implied by Schrute's offer to Bernard?

Reference no: EM133182833

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