Asked by Norberto Esquer on Apr 29, 2024
Verified
If an interest rate (which could be greater than 10%) is to be calculated to the nearest 0.01%, what minimum number of digits must be retained in the numbers used to calculate the interest rate?
Nearest 0.01%
Rounding to the closest one-hundredth of a percent, often used in financial calculations to ensure precision.
- Ascertain the minimal quantity of numerals essential to uphold exactness in sophisticated calculations.
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Learning Objectives
- Ascertain the minimal quantity of numerals essential to uphold exactness in sophisticated calculations.