300 énigmes - download pdf or read online

By Nicolas Conti

ISBN-10: 2754003568

ISBN-13: 9782754003568

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Even though the differences are not big, it is easy to see how confusion and disputes could arise if the choice of method were left unclear. In practice, if the term of the loan is to be measured in days, the terms of the loan should specify which method will be used in order to prevent misunderstanding. You might suspect that the differences between bankers’ rule and the exact method leave an opportunity for sneaky banks to manipulate interest calculations to their benefit. After all, what prevents a bank from always choosing whichever rule works to its advantage (and thus to the customer’s disadvantage)?

250 _________ This answer seems like it must be wrong, since it makes no sense. 4884004884? What does that tell us? To make sense of this, we need to remind ourselves that as long as the interest rate is a rate per year (which we assume unless explicitly told otherwise), the time in our formula must also be expressed in years. 4884004884 years. That would be a bit less than half a year, which does seem reasonable. Leaving the answer in this form, though, is probably going to be unacceptable to most people.

Find the simple interest rate. C. Finding Time Answers should be expressed in an appropriate unit of time. Make sure to clearly state the unit of time that you are using in your answer. When using days remember to assume the exact method unless stated otherwise. 13. 84159 years into days. 14. Find the term of a loan if the principal is $20,000, the interest rate is 8%, and the total interest is $320. 15. Jennifer borrowed $7,000 at a simple interest rate of 97/8%. 88 simple interest for this loan.

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300 énigmes by Nicolas Conti

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