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D'Hidang borrowed RM50,000 today that he must repay in 15 annual end-of-year installments of RM5,000. What annual interest rate is D'Hidang paying on his loan?
D'Hidang borrowed RM50,000 today that he must repay in 15 annual end-of-year installments of RM5,000. What annual interest rate is D'Hidang paying on his loan?
Select one:
a. 2.222%.
b. 5.556%.
c. 33.33%.
d. 3.333%.
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