5.1 calculate the interest rate charged on the past six months of the investment period

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26-08-2022
Mathematics

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5.1 calculate the interest rate charged on the past six months of the investment period

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pstnonsonjoku pstnonsonjoku · Answer 1 · 2022-08-29T06:19:28-04:00

The interest that is charged on the past six months of the investment period could be obtained by the use of the interest formula.

What is interest?

The term interest refers to the money that accrues on an investment or the money that is charged on top of a loan. The interest could be simple (charged only on the principal) or compound (charged on both the principal and the interest).

Thus, the interest that is charged on the past six months of the investment period could be obtained by the use of the interest formula.

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