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Khalid loaned RM 20,000 from Bank A at an annual effective rate of 8%. He wants to repay the loan with 5 annual payments at
Khalid loaned RM 20,000 from Bank A at an annual effective rate of 8%. He wants to repay the loan with 5 annual payments at the end of each year. Apart from that, he also wants to borrow from Bank B at an annual effective rate of 7.5%. and he wants to repay this loan to Bank B also with 5 annual payments at the end of each year. With the amount he loaned from Bank A and Bank B, he then lent the RM 25,000 to Weeda immediately and Weeda agreed to pay back with four annual level repayments at the end of each year at an annual effective rate of 8.5%. Khalid then invested the profits that he received from repayments of Weeda and both banks at an annual effective rate of 6%. With the amount he received from this investment, he then immediately repays back the banks loan in full (both Bank A and Bank B), how much is Khalid has left
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