Why does one multiply by 1200? What does it mean when determining an APR?
Md Ariful Islam
বিএসসি(সিএসই)
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এমবিএ(মার্কেটিং)
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Dr. Md Rushad Rahman
এমবিবিএস(আরপিএমসি)
,
পিজিটি(মেডিসিন)
Interest equals principal times rate times time. To find out the percentage or rate take the principal multiplied by the time and divide by the interest accrued.
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