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Higher Purchase

Published online by Cambridge University Press:  03 November 2016

E. R. Love
E. R. Love*
Affiliation:
University of Melbourne, Australia
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Extract

What is the effective rate of interest when a loan of £L is paid for by n equal payments of £P at equal intervals of time, as in hire purchase and other forms of time payment?

Type
Research Article
Information
The Mathematical Gazette , Volume 48 , Issue 363 , February 1964 , pp. 65 - 70
Copyright
Copyright © Mathematical Association 1964

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References

* See Durell & Robson, “Advanced Algebra” p. 375; or Ferrar, “Higher Algebra” (the sequell) p. 243.