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International Baccalaureatte | Further Maths HL
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International Baccalaureatte chevron_right Further Maths HL

How to know which is the best Effective interest rate when it compounded differently??

Date Posted: 1 year ago
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Tham KY
Tham Ky's answer
4641 answers (Tutor Details)
1 year ago
The calculations all correct and I was fine with calculation. However, my real struggle was with the question 'which represents the best effective rate and why? '

Anyways, thank you so much for your helps.
Tham KY
Tham KY
1 year ago
"Effective annual interest rate" means if put all into one same calculation, ie compounded annually only. Coz Qn asked for "annual interest rate"...