LAWSON New member Joined Feb 12, 2018 Messages 1 Nov 10, 2018 #1 Suppose you were given 25000 by a bank. How much will you be paying back at a discount rate of 7.5% at the end of 15 months
Suppose you were given 25000 by a bank. How much will you be paying back at a discount rate of 7.5% at the end of 15 months
D Denis Senior Member Joined Feb 17, 2004 Messages 1,700 Nov 10, 2018 #2 LAWSON said: Suppose you were given 25000 by a bank. How much will you be paying back at a discount rate of 7.5% at the end of 15 months Click to expand... Is the rate 7.5% ANNUAL? Is it simple interest (no compounding)? What answer did YOU get?
LAWSON said: Suppose you were given 25000 by a bank. How much will you be paying back at a discount rate of 7.5% at the end of 15 months Click to expand... Is the rate 7.5% ANNUAL? Is it simple interest (no compounding)? What answer did YOU get?
