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Chapter 29 example 5 annual interest

This topic has 1 reply, 2 voices, and was last updated 8 years ago by P2-D2.

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March 27, 2017 at 7:12 pm #379389
christiannekatwaru
Participant
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Good day
I tried Example 5 in Chapter 29 of the Cima F1 notes – Annual Interest. I got an answer of 12.7% while the answers at the back of the notes said it was 18 %. Is there an error on my part or is that the correct answer. Thanks.
April 19, 2017 at 8:26 pm #382722
P2-D2
Keymaster
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Hi,
Yes, you might be right. I think the answer has put in a 2% discount as opposed to the 1.5% discount.
Thanks
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