作业帮求高手解答金融利率计算题A company offers its customer a discount of 3.4% if they pay immediately,or alternatively credit terms of 32 days to pay the full amount. (a) what is the effective interest rate for the credit period of 32 days? (b
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求高手解答金融利率计算题A company offers its customer a discount of 3.4% if they pay immediately,or alternatively credit terms of 32 days to pay the full amount. (a) what is the effective interest rate for the credit period of 32 days? (b
求高手解答金融利率计算题
A company offers its customer a discount of 3.4% if they pay immediately,or alternatively credit terms of 32 days to pay the full amount.
(a) what is the effective interest rate for the credit period of 32 days?
(b) what is the effective annual rate?
求高手解答金融利率计算题A company offers its customer a discount of 3.4% if they pay immediately,or alternatively credit terms of 32 days to pay the full amount. (a) what is the effective interest rate for the credit period of 32 days? (b
a)
Effective rate = (Interest/usable Funds) x (360/Loan Period(days))
Effective interest rate= (0.034/0.966) x ( 360/360) = 3.5197%
b)
Effective annual rate = [ discount / (100%-discount) ] x [ 360 / (credit period - discount period) ]
=[ 3.4%/ (100%- 3.4%)] x [ 360 / (32-1) ]
=(0.034/0.966) x (360/31)
=40.874%