JUDr. Usury

Judge JUDr. Usury approved the agreement on guilt and punishment where confessed to pay daily interest 0.18%. How big is a yearly interest? Year has 360 days.

Result

x =  91.06 %

Solution:

x=(1+0.18100)3601= x=1.00183601=0.9106 x=91.06%x = (1+ \dfrac{ 0.18}{ 100})^{ 360 } -1 = \ \\ x = 1.0018^{ 360 } -1 = 0.9106 \ \\ x = 91.06 \%



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