Question
Find the simple interest and the final value. If the principle is BD 1100 and interest rate 8% and the length of loan 950 months.
Find the simple interest and the final value. If the principle is BD 1100 and interest rate 8% and the length of loan 950 months.
2. On May 15, Ali joined a gulf club. His bank will automatically deduct BD 130 from his checking account at the end of each month, and deposit it into his gulf club account, where it will earn 8% annual interest. The account comes to term on October 10. Find the following:
a. Find the future value of Alis gulf club account. (2 Marks)
b. Find Alis total contribution to the account. (1 Mark)
c. Find the total interest earned on the account. (1 Mark)
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
