(a) If you were lent 20,000 for 86 days at 5%, how much interest would you pay?...

Question:

(a) If you were lent £20,000 for 86 days at 5%, how much interest would you pay?
(b) If a debt factor offered to discount a £5,000 bill of exchange at 10%, and if the bill had an outstanding period of 180 days, how much would the debt factor pay for the bill?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 50% (2 reviews)

a To calculate the interest on a loan of 20000 for 86 days at an interest rate of 5 you can use the ...View the full answer

Answered By

Abdul Wahab Qaiser

Before working at Mariakani, I volunteered at a local community center, where I tutored students from diverse backgrounds. I helped them improve their academic performance and develop self-esteem and confidence. I used creative teaching methods, such as role-playing and group discussions, to make the learning experience more engaging and enjoyable. In addition, I have conducted workshops and training sessions for educators and mental health professionals on various topics related to counseling and psychology. I have presented research papers at conferences and published articles in academic journals. Overall, I am passionate about sharing my knowledge and helping others achieve their goals. I believe that tutoring is an excellent way to make a positive impact on people's lives, and I am committed to providing high-quality, personalized instruction to my students.

0.00 0 Reviews 10+ Question Solved

Related Book For book-img-for-question