The annual interest rate is 195.1%.
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.
Annual interest rate = (1 + biweekly interest rate) ^number of compounding - 1
Number of compounding = 52 / 2 = 26
(1.0425)^26 - 1 = 195.1%
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