Zelda borrowed R5760,00 from a bank for 21 months. For the discount loan she only received R4752,00 . Determine: (i) the yearly discount rate, d (ii) the equivalent yearly simple interest rate, i
Zelda borrowed R5760,00 from a bank for 21 months. For the discount loan she only received R4752,00 . Determine: (i) the yearly discount rate, d (ii) the equivalent yearly simple interest rate, i
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Zelda borrowed R5760,00
from a bank for 21 months. For the discount loan she only received R4752,00
. Determine:
(i) the yearly discount rate, d
(ii) the equivalent yearly simple interest rate, i
Give the answers as percentages and round them to two decimal places.
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