Even numbers are divided by two
Even numbers are easier to cope with in math problems
There are only odd prime numbers
Answer:
nominal rate of interest is 31.7 %
Step-by-step explanation:
given data
payment = $1000
time = 2 year
rate = 4%
CPI = 100
CPI final yer = 127.7
to find out
nominal rate of interest
solution
we know nominal rate of interest formula that is
nominal rate of interest = real interest rate + inflation rate .........1
so here inflation rate is express as
inflation rate = ( CPI final year - CPI ) / CPI × 100 ...........2
put here value
inflation rate = ( 127.7 - 100 ) / 100 × 100
inflation rate is 27.7 %
so from equation 1
nominal rate of interest = real interest rate + inflation rate
nominal rate of interest = 4% + 27.7%
nominal rate of interest is 31.7 %
6+2/3% <--- Given
(6+2/3)/100 <--- Definition of percent
(20/3)/100 <--- Putting the top into an improper fraction
20/300 <--- Dividing the fractions
1/15 <--- Simplifying the fraction
Hope this helps!
