What is the effective rate of the loan that chose

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Mark is looking to secure a small business loan. The first lender is offering 11% compounded weekly, whereas the second lender is offering 11.25% compounded semi-annually and the third lender is offering 11.6% compounded annually. Mark chose the loan that offers the lower effective rate.

Problem 1: What is the effective rate of the loan that he chose?

Reference no: EM132998073

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