Prove that the interest rate of the below offer of 3.03% flat rate (fix rate) is...
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Prove that the interest rate of the below offer of 3.03% flat rate (fix rate) is equivalent to 5.69% if reducing rate (effective rate); use the following, ● As stated loam amount up to 2,000,000 (two million dirham) Loan period, (not stated), normally its 25 years for local and 15 years for expat. Loans up to AED 2 Mn Offers Free 1st year Free Overdraft set up Life Insurance Terms and conditions apply. *equivalent to 5.69% p.a. reducing > Loans disbursed by 10th Mar 2021. Attractive low-interest rates starting from 3.03% * p.a. flat Offers valid from 14th to 21st Feb 2021. Prove that the interest rate of the below offer of 3.03% flat rate (fix rate) is equivalent to 5.69% if reducing rate (effective rate); use the following, ● As stated loam amount up to 2,000,000 (two million dirham) Loan period, (not stated), normally its 25 years for local and 15 years for expat. Loans up to AED 2 Mn Offers Free 1st year Free Overdraft set up Life Insurance Terms and conditions apply. *equivalent to 5.69% p.a. reducing > Loans disbursed by 10th Mar 2021. Attractive low-interest rates starting from 3.03% * p.a. flat Offers valid from 14th to 21st Feb 2021.
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