What is the absolute change in the interest rate? The annual interest rate for rapper Cienega Kilenega’s bank account decreased from 2.8% to 2.3%. What is the relative change in the interest rate? (Express your answer as a percentage rounded to the nearest tenth of a percent.)
The annual interest rate for rapper Cienega Kilenega’s bank account decreased from 2.8% to 2.3%.
What is the absolute change in the interest rate?
The annual interest rate for rapper Cienega Kilenega’s bank account decreased from 2.8% to 2.3%.
What is the relative change in the interest rate? (Express your answer as a percentage rounded to the nearest tenth of a percent.)
Absolute change in Interest rate:
Absolute change in interest rate means the amount of change in interest rate of two periods. It is an indicator of the difference between interest prevailing in the initial and final period. It is an absolute measure of the change in interest rate. It is not expressed in percentage terms. It can be calculated using the following formula:
Relative change in Interest Rate:
Relative change in interest rate measures the amount of change in interest rate in percentage terms. It also indicates the difference in interest rate of two periods in percentage terms. This will not give the amount in absolute terms.
It can be calculated using the following formula:
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