= Jennifer =
Active Member
hey everyone i was wandering if someone might be able to help me with this question:
Calculate the effective interest rate for this loan using simple interest: $550 over 2 years at 13%pa flat interest with repayments six monthly.
answer:20.8%
how??? can someone please help me out here
thanks
Calculate the effective interest rate for this loan using simple interest: $550 over 2 years at 13%pa flat interest with repayments six monthly.
answer:20.8%
how??? can someone please help me out here
thanks