tidballjacob98 tidballjacob98

03-10-2022
Mathematics

Answered

A building society is advertising the following savings accounts.
Nominal
interest rate
Account
Marble Saver
Oak Saver
4.75% p.a.
paid yearly
b) Explain why AER is used.
4.7% p.a.
paid monthly
AER (%)
10
a) Use the information given to work out the AER for both savings accounts.

Answer :

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