Point III is about <em>real interest rate</em>
point I doesn't apply since both nominal and effective ir are calculated by year
let alone the fact that if you look close to those numbers it would probably mean that the loan had 1year and 1 day duration :)
the II answer is the correct one
if the loan is compounded at 6 months you have to add the interest of the first 6 months interest to the total interest to find out the effective interest rate
Answer:
6/7
Step-by-step explanation:
Answer:
y>6
Step-by-step explanation:
5y>30
y>30/5
y>6
That would be 180 / 1 1/8
= 180 / 9/8
= 180 * 8/9
= 20 * 8
= 160 boxes Answer
