Mathematics, 08.07.2021 22:10, tjjjjjjjjjjjjjjjjjjj

6b. The bank charges interest at 9% per annum, compounded monthly on the
loan amount. Lerato works out that the
loan will carry an effective interest rate
of 9, 6% per annum. Is her calculation
correct or not? Justify your answer with
appropriate calculations

Answers: 2

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6b. The bank charges interest at 9% per annum, compounded monthly on the
loan amount. Lerato w...