Determine the equivalent single rate of discount to three decimal places for the following series of discounts. Discount of 17.25%, 14.7% and 16.37%. A. 41.162% B. 42.838% C. 40.969% D. 41.223% E. 43.084%
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We can use the formula: Net discount rate = 1 - (1 - d1)(1 - d2)(1 - d3) where d1, d2, and d3 are the three given discounts. Plugging in the values, we get: Net discount rate = 1 - (1 - 0.1725)(1 - 0.147)(1 - 0.1637) = 0.41162 Show more…
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