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Sagot :
The annual interest rate is 195.1%.
What is interest rate?
Interest rate is the cost of borrowing. It is the amount the borrower pays the lender for the use of the lender's funds. Interest rate increases the amount borrowed by the interest rate.
What is the annual interest rate?
Annual interest rate = (1 + biweekly interest rate) ^number of compounding - 1
Number of compounding = 52 / 2 = 26
(1.0425)^26 - 1 = 195.1%
To learn more about interest, please check: https://brainly.com/question/26367706
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