# Math Help - How to find APR given the weekly interest rate

1. ## How to find APR given the weekly interest rate

The Question had to do with finding interest rate for a loan in amount of $40 that was to be paid back in a week's time with$50

Here is what I think the Annual Effective Rate is for a weekly interest rate of 25%

Is it correct?

$10 is interest for 1 week: so for a year, interest would be 52 * 10 =$520