Interest p.a.

Calculate the value of interest in period of 1 year from the deposit 62000 CZK at 8 percent interest rate, after deducting 15 percent tax.

Correct result:

x =  4216 Kc

Solution:

x=8/100 62000 (115/100)=4216 Kcx=8/100 \cdot \ 62000 \cdot \ (1-15/100)=4216 \ \text{Kc}



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