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?
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35. Wardegul (sept/dec 2017)
3y ago#1No.
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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