In the video, example 4, annual effective cost for EFG the answer is worked out at 10.1% however in the answers at the back of the book it’s given as 12.8%…Can you clarify please?

I have the same question. I tried working through example 5 like how we did in the lecture too and I am getting 12.74% whereas the answer says it is 18.8% ?

sjreddie76 says

In the video, example 4, annual effective cost for EFG the answer is worked out at 10.1% however in the answers at the back of the book it’s given as 12.8%…Can you clarify please?

cshelton says

I have the same question. I tried working through example 5 like how we did in the lecture too and I am getting 12.74% whereas the answer says it is 18.8% ?

rshallabi says

is the answer to the last question 11.3%? is it correct that Dory is better offering the 1.5% discount as it’ll be cheaper than taking an overdraft?