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Question 5 2 pts For the following interest rate statement : 0
Question 5 2 pts For the following interest rate statement : 0.28% per week. The value of APY is: 13.98% 15.68% 14.56% 17.89%
Expert Solution
Weekly rate of Interest = 0.28% = 0.0028
There are 52.14 weeks in an year
Annual percentage yield = [1 + 0.0028] ^52.1429 = 15.69%
Option B is correct
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