Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An ordinary payment of 1,200 dinars was placed in a bank at an annual rate of interest (16%) for a period of 6 years If

image text in transcribed

An ordinary payment of 1,200 dinars was placed in a bank at an annual rate of interest (16%) for a period of 6 years If the interest is added every 3 months, it is required to know (1) the total of payments (2). If you know that the annual interest rate is (12%), what is the total of the immediate payments? (1) Total payments equal 46899,124 (2) Total immediate payments equal 42551.1128 The total of the payments is 4,2551,1128 (2) The total of the immediate payments is 4,6899

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Reward And Benefits Audit

Authors: Michael Armstrong

1st Edition

1907766081, 978-1907766084

More Books

Students also viewed these Accounting questions