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Title: Determine the effective rate of interest corresponding to 6% p. Post by: majarm on Nov 27, 2017 Determine the effective rate of interest corresponding to 6% p.a. compounded monthly
Title: Re: Determine the effective rate of interest corresponding to 6% p. Post by: rmaccara on Nov 27, 2017 i = = 0.5% = 0.005; m = 12
f = - 1 f = - 1 f = 1.061677812 - 1 = 0.061677812 = 6.17% Programmed solution: |