Question
Please can you show me step by step on how did the answer arrive at 4.66%? I've got a different amount and I must have
Please can you show me step by step on how did the answer arrive at 4.66%? I've got a different amount and I must have calculated wrongly.
Question:
Annual interest rate, r = 0.2%
3 month interest rate: (1 + r)1/4 - 1 = 0.0466 (which is 4.66%).
Thank you.
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
