How to work out AER % on savings ..?

sloughflint

MarkyMarkD wrote: »

You can't say that it's "no more or less accurate"

I didn't.;)

I understood what you were conveying but I just see things differently. Anything other than a precise figure to me is just a crude approximation for which a simple calculation would suffice.

You homed in on the choice of days but what instead caught my eye was the unsuitability of launching into natural logarithms, failure to see how the formula could be simplified and by 'cutting a long story short' missing out key steps which probably left the OP totally baffled and so it is not surprising that s/he posed another question on the same theme not long after.

MarkyMarkD

OK: "no more or less correct". But generally, I agree. I didn't use any natural (or any other kind of) logarithms.

Denzil73

Um, what on earth is ^ for a mathematical operand? +-*/ are your std maths signs on a keyboard but ^? Confused and wish to figure out this AER stuff.

Thanks, Mike

atypical

Denzil73 wrote: »

Um, what on earth is ^ for a mathematical operand?

Read it as 'to the power of'. It's quite commonly used e.g. here.