Question 1181327


Answer:
Effective Annual Rate:
{{{4.86}}}%

Solution:
{{{i=(1+r/n)^n-1}}}......{{{n=52}}}.weekly rate {{{0.0475}}}
{{{i=(1+0.0475/52)^52-1}}}
{{{i=(1+0.047552)^52-1}}}
{{{i=0.048623}}}
{{{I=i*100=4.86}}}%