Question 706802
There are 52 weeks in a year (since 52*7 = 364, so that's close enough)


So instead of using the number 4, you're using the number 52 in your formula.



Hint: the effective rate formula is



EAR = (1 + r/n)^n - 1


where


r = nominal rate (usually the APR)


n = compounding frequency (in this case, n = 52)


Note: EAR stands for effective annual rate