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12b.3

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

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September 1, 2021 at 11:08 pm #633885
johnbriane
Member
- Topics: 170
- Replies: 160
Dear sir
In this question why did we use effective annual interest rate
Why couldn’t we just
Apply the compounding interest formula and solve this question
Why did we
Take EAR into the picture
Thank you
September 2, 2021 at 7:42 am #633920
John Moffat
Keymaster
- Topics: 56
- Replies: 51585
You could do it that way and arrive at the same answer. How you get to the answer does not matter in the exam (because nobody will look at your workings 🙂 )
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