SOLUTION: Why is simple interest rate of 13% on a loan for one year higher. Than a 1% interest rate on a monthly balance at the end of each month for one year
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-> SOLUTION: Why is simple interest rate of 13% on a loan for one year higher. Than a 1% interest rate on a monthly balance at the end of each month for one year
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Question 335734: Why is simple interest rate of 13% on a loan for one year higher. Than a 1% interest rate on a monthly balance at the end of each month for one year
You can put this solution on YOUR website! 1% per month for 12 months =
That's 12.68% interest.
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As for "why", why is 7 more than 6?
