How many types of interest are there such as Simple Interest, Compound Interest or Effective Interest, and many more if you can tell and explain the types of different interests?
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Types of interest
5y ago#1They are not different types of interest but different ways of stating the interest rate.
They are all explained in my free lectures on interest. The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.
Yes Sir, I have seen your lecture on Simple interest, Compound Interest but I could not anything on Effective interest that what it is. Could you please then explain that to me?
Secondly, I guess from seeing the lecture that there are only two ways of stating the interest rate which are simple interest and compound interest. Am I right here?
5y ago#3I certainly do explain what the effective interest rate is. Try reading page 95 of our lecture notes where there is an example headed up 'effective rate', and the lectures work through the example and explain it.
You second sentence is correct.
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