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35. Wardegul (sept/dec 2017)

This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.

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May 22, 2023 at 8:56 am #684799
hm1995
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in question a) how did we get the rate of 5.3% when the current rate(4.2%) increases by 1.1%? should it not be 4.2*1.011 = 4.25% the new rate?
May 22, 2023 at 3:55 pm #684822
John Moffat
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No.
4.2 + 1.1 = 5.3
Given that both are quoted as %’s we simply add them. Not take a % of %.
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