An automobile financier claims to be lending money at the simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effect

An automobile financier claims to be lending money at the simple in

1.	An automobile financier claims to be lending money at the simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effect
A.	3.5 years
B.	4 years
C.	4.5 years
D.	5 years
Answer» C. 4.5 years

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An automobile financier claims to be lending money at the simple interest, but he includes the interest every six months for calculating the principal. If he is charging an interest of 10%, the effect

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