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A well-known financial writer argues that he can earn 101 percent per year buying wine by...

A well-known financial writer argues that he can earn 101 percent per year buying wine by the case. Specifically, he assumes that he will consume one $14 bottle of fine Bordeaux per week for the next 12 weeks. He can either pay $14 per week or buy a case of 12 bottles today. If he buys the case, he receives a 7 percent discount and, by doing so, earns the 101 percent. Assume he buys the wine and consumes the first bottle today. Calculate the EAR.

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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

NEED HELP WITH FINANCIAL CALCULATOR, LET ME KNOW

AS NOTHING WAS MENTIONED, SOLVED WITH EXCEL.

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