A loan for $50,000 is to be paid after, n=3 years at the amount of $100,000. What is the…

A loan for $50,000 is to be paid after, n=3 years at the amount of $100,000. What is the…

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A loan for $50,000 is to be paid
after, n=3 years at the amount
of $100,000. What is the
nominal interest rate per
year(r), if it is compounded
weekly? (one year =52 weeks)

Expert Answer:

Answer rating: 100% (QA)

To find the nominal interest rate per year r compounded weekly we can use the formula for compound i
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