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1)you have been offered a loan amount of 80,000 from the Arab bank at an interest rate of 4.50%. the term of the loan is
1)you have been offered a loan amount of 80,000 from the Arab bank at an interest rate of 4.50%. the term of the loan is 15 years. What is the monthly payment?
a. 600.98
b. 512.78
c. 611.99
d. 700.34
11)Mohammed must pay lump sum of $8000 in 5 years. What amount must be deposited today at 6.2% compounded annually will make the amount of $8000.
a. 112.897.22
b. 5,921.98
c. 6,921.98
d. 11,786.32
12)you have $49,000 invested at 10% rate for 2 years. Find the AMOUNT compounded yearly
a. 15,708
b. 59,290
c. 67,960
d. 38,900
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