document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=706802>Question 706802</A>: <I><SPAN STYLE=\"word-break: break-all;\"> please help me find the effective rate corresponding to the nominal rate of 5.47% compounded weekly. <BR>\n" );
document.write( "when using weekly what will I be multiplying by?<BR>\n" );
document.write( "i know that quarterly is by 4. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #435404 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=435404\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> There are 52 weeks in a year (since 52*7 = 364, so that's close enough)\r<BR>\n" );
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document.write( "So instead of using the number 4, you're using the number 52 in your formula.\r<BR>\n" );
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document.write( "Hint: the effective rate formula is\r<BR>\n" );
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document.write( "EAR = (1 + r/n)^n - 1\r<BR>\n" );
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document.write( "where\r<BR>\n" );
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document.write( "r = nominal rate (usually the APR)\r<BR>\n" );
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document.write( "n = compounding frequency (in this case, n = 52)\r<BR>\n" );
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document.write( "Note: EAR stands for effective annual rate </SPAN>\n" );
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