Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6. Namaz deposited money at 11% interest, after 10 months he received 11500 soms. Then, depositing this money he received 13000 soms at the end

image text in transcribed

6. Namaz deposited money at 11% interest, after 10 months he received 11500 soms. Then, depositing this money he received 13000 soms at the end of the year. Find effective interest rate. (%)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Terrorist Finance

Authors: T. Wittig

2011th Edition

0230291848, 978-0230291843

More Books

Students also viewed these Finance questions

Question

I find it difficult to pick out the main idea of a passage.

Answered: 1 week ago