20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2025 exams.
Get your discount code >>

Annual Interest rate

This topic has 3 replies, 3 voices, and was last updated 9 years ago by John Moffat.

Viewing 4 posts - 1 through 4 (of 4 total)

Author
Posts
March 11, 2016 at 4:37 pm #305664
Samit
Member
- Topics: 6
- Replies: 19
Sir, please help me with the following:
A Co. issues loan notes of $1000000, redeemable after 90 days for $1080000. Assuming 360 days/year what is the annual interest rate?
Can it be done as follows: 1080000 = 1000000*r*90/360 and solving for ‘r’?
March 12, 2016 at 7:55 am #305953
John Moffat
Keymaster
- Topics: 57
- Replies: 54636
No it should be (1 + r) = (1080000/1000000)^(360/90)
March 24, 2016 at 8:57 am #308074
Azad
Member
- Topics: 10
- Replies: 27
@sampat54 said:
Sir, please help me with the following:
A Co. issues loan notes of $1000000, redeemable after 90 days for $1080000. Assuming 360 days/year what is the annual interest rate?
Can it be done as follows: 1080000 = 1000000*r*90/360 and solving for ‘r’?
WHERE IS THE QUESTION AVAILABLE?
March 24, 2016 at 11:05 am #308089
John Moffat
Keymaster
- Topics: 57
- Replies: 54636
What are you talking about? The question is what Samit wrote in his post!!
(and please do not write in capital letters)
Author
Posts

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.