If it took you 18 months to pay the money back to the bank, how much would you pay?
2 answers:
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Answer:
1.65%
Step-by-step explanation:
We will assume the percentage was the same over the 5 years. The number of passengers using a railway is expressed by the formula
Where
P(t) is the number of passengers after 5 years
P(t) = 174,989
P₀ is the number of the passengers at the beginning of the period
P₀ = 190,205
r is the rate in percentage r = ?
t is time duration t = 5 years
Substituting these given values into the formula,
r = 1.65%
The annual percentage decrease over the period of 5 years is 1.65%