SOLVED: What is the effective interest rate of a discount note for 22,700 php at a discount rate of 12% for period of 36 months?
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SOLVED: What is the effective interest rate of a discount note for 22,700 php at a discount rate of 12% for period of 36 months?
VIDEO ANSWER: An ordinary bank discount rate of 8.84 % is what the man has for a simple discount note of 6,400. The effective interest rate is what it is. The …
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You were offered either a simple interest note or a simple discount note with the following terms: 33,353 at 7% for 18 months.a. Calculate the effective interest rate. (Do not round intermediate calculations. Round your final answer to the nearest tenthpercent.)Effective interest rate%b. Based on the effective interest rate, which would you choose?O simple interest noteO simple discount note
You were offered either a simple interest note or a simple discount note with the following terms: 33,353 at 7% for 18 months.a. Calculate the effective interest rate. (Do not round intermediate calculations. Round your final answer to the nearest tenthpercent.)Effective interest rate%b. Based on the effective interest rate, which would you choose?O simple interest noteO simple discount note
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