what interest rate is equivalent to an 11% discount rate in discounting amounts for 3 years
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Given : an 11% discount rate in discounting amounts for 3 years
To Find : Equivalent interest rate
Solution:
11% discount rate in discounting amounts
=> P = 100-11 = 89
A = 100
n = 3 Years
A = P (1 + R/100)ⁿ
=> 100 = 89 ( 1 + R/100)³
=> 1.0396 = 1 + R/100
=> R = 3.96 %
3.96 % interest rate is equivalent to an 11% discount rate in discounting amounts for 3 years
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tagalog tayo
Step-by-step explanation:
diba naka india po kayo
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