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  3. a loan shark lends you $70 at 3% compound interest

A loan shark lends you $70 at 3% compound interest per week (this is a...

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A loan shark lends you $70 at 3% compound interest per week (this is a weekly, not an annual rate). (a) How much will you owe after 2 years? (Use 52 weeks per year.)(b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig." Find the shark's vig.

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