Joel takes out a loan with a stated rate of 11.85% interest. if the interest is calculated weekly, how much greater is joel’s effective rate than his stated rate?
a. 0.72 percentage points
b. 0.52 percentage points
c. 0.70 percentage points
d. 0.67 percentage points

The third program provides families with $50 in food stamps each week, redeemable for both perishable and nonperishable food. the fourth policy instead provides a family with a box of nonperishable foods each week, worth $50. use two graphs to illustrate that a family may be indifferent between the two programs, but will never prefer the $50 box of nonperishable foods over the $50 in food stamps. state your answer and use a consumer choice model for perishable food and nonperishable food to graphically justify your choice.