Question
Business Mathematics answers the questions show the steps based on a formula. Use formulas to find the present value for each of the following: Future
Business Mathematics answers the questions show the steps based on a formula.
- Use formulas to find the present value for each of the following:
| Future Value | Rate | Number of Years | Compounded | Present Value | |
| 1 | $1 | 10% | 5 | Annually | ? |
| 2 | $1 | 12% | 8 | Semi-annually | ? |
| 3 | $1 | 6% | 10 | Quarterly | ? |
| 4 | $1 | 12% | 2 | Monthly | ? |
- Ahmed borrowed AED30,000 for office furniture. The loan was for six months at an annual interest rate of 8%. What are Ahmeds interest and maturity value?
- On March 4, Saleh borrowed AED50,000 at 5% interest. Interest and principal are due on July 6. What is the interest cost and the maturity value?
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Fintech In Islamic Finance Theory And Practice
Authors: Umar A. Oseni, S. Nazim Ali
1st Edition
1138494801, 978-1138494800
