Answer to Question #245364 in Economics for Sera

Question #245364

Find the exact simple interest rate of 10.75% for one year and 3 months? What is the exact discount rate?


1
Expert's answer
2021-10-01T12:23:34-0400
"\\frac{10.75}{12}\\times15=13.44"

"13.44-10.75=2.69"


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