MATH1510 Financial Mathematics I - University of Leeds

example, the period is measured in years, and the interest rate is quoted per annum (\per annum" is Latin for \per year"). These are the units that are used most often. In Section 1.5 we will consider other possibilities. Example 1.1.3. Suppose you put $1000 in a savings account paying simple interest at 9% per annum for one year. ................
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