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JollySwgm
1 year ago

Basically, interest rates are simple percentages. Only that interest always refers to a whole year.

JollySwgm
1 year ago
Reply to  Flugzeugegeil

No, that’s exactly the same. Just for a year. If the start time is shorter, you have to convert the result accordingly.

For half a year, interest rates are just half as high as for a whole year.

odine
1 year ago

It sounds too complicated for me.

I’m doing this about the equation.
Adoption:
23% of chicken eggs explode because the chickens are too heavy.
You put 512 eggs. How much eggs are broken?

You write everything you have in the following way: all you know about eggs, right, and the corresponding percentage left. Then you multiply the occupied values over cross and divide by the diagonal value that is missing.

Example:
512 eggs…. 100%
———–= ———
x Eggs…… 23%
Solution:
Diagonal 23%*512 eggs / 100% = 117.76 eggs.
Points are only there to prevent the numbers from slipping.

Wechselfreund
1 year ago

Percentages are hundredths. At that time, we’d have to settle…

And the year has 360 days for interest.