Chapter 29 example 5 annual interest

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March 27, 2017 at 7:12 pm #379389
christiannekatwaru
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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
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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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