SOLUTION: Find the exact simple interest rate of 10.75% for one year and 3 months? What is the exact discount rate?

Question 1185382: Find the exact simple interest rate of 10.75% for one year and 3 months? What is the exact discount rate?
Answer by ikleyn(52784) (Show Source): You can put this solution on YOUR website!
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Find the exact simple interest rate of 10.75% for one year and 3 months?
What is the exact discount rate?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

One year and 3 months is    of a year.


Therefore, simple interest of 10.75% for one year and 3 months is equivalent to

     = 0.086 = 8.6% per year.    ANSWER

First question is answered.

I do not understand the meaning of the second question - so, I leave it without my answer.

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