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Answer to Question #292779 in Financial Math for ROWLEE

Question #292779

The simple interest rate which is equal to a discount rate of 12% per year for a period of 18 months is ?


1. 10.32%

2. 0.12%

3. 12.00%

4. 14.36%


How do I work it out?


1
Expert's answer
2022-02-02T11:40:06-0500

"r=\\frac{0.12}{1-1.5\\times0.12}=0.1463" = 14,63%


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