More precise number. To figure out how many two-week period there are in a year. We divide 365 days by 14 days to get 26. 0714. We then multiply this by the interest rate for two weeks of 23 to get a simple annual percentage rate of 599. 64 percent. Lets see another example: Lets say personal loan eligibility in sbh were borrowing 200 with a cost of borrowing of forty-four dollars and youre only borrowing for 10 days.
The rate for the period is forty-four dollars divided by two hundred dollars or 22-percent. The period is 10 days.
To figure out the simple annual percentage rate, we need to multiply 22 percent per ten days by the number of ten day periods in a year, which is given by 365 days divided by ten days or 36.
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