Interest You work for jewellers and have sourced a good goldsmith who is able to sell you
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Interest You work for jewellers and have sourced a good goldsmith who is able to sell you 100 ounces of gold for £100,000. You approach your two main customers. Mr Noel says he will buy the gold from you in six months for £104,000, whereas Ms Biggs tells you that she will be able to buy the gold from you in two years’
time for £116,000. What is the annual percentage rate that Mr Noel and Ms Biggs are offering you? Which option should you go for?
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