Choice of borrowing money from a finance

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You have a choice of borrowing money from a finance company at 22 percent compounded monthly or borrowing money from a bank at 24 percent compounded weekly. Which alternative is the most attractive?

If you can borrow funds from a finance company at 22 compounded monthly, the EAR for the loan is what %.

If you can borrow funds from a bank at 24% compounded weekly, the EAR for the loan is what %?

Reference no: EM13914487

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