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?
"r=\\frac{0.12}{1-1.5\\times0.12}=0.1463" = 14,63%
Need a fast expert's response?
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!
Comments
Leave a comment