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On 5 July 2017, Lisa borrowed RM900 and agreed to repay the loan in 100 days at 10% per annum simple interest. Find the simple

  1. On 5 July 2017, Lisa borrowed RM900 and agreed to repay the loan in 100 days at 10% per annum simple interest. Find the simple amount of the loan and the settlement date of the loan, using the Bankers rule.
  2. Find the future value for the following investments
    1. RM120,000 at 9% compounded daily for 270 days.
    2. RM40,000 at 12% compounded every 4 months for 6 years
    3. RM19 999 at 4.5% compounded every 2 months for 2 years.
  3. RM65,000 will be invested for 6 years 9 months. If the investment will be offered 5% compounded semi-annually for the first 2 years, 6% compounded monthly for the next 18 months and 7% compounded daily for the rest of the period, find the future value of this investment.
  4. Find the amount to be invested now at 6% compounded monthly so as to accumulate RM8888 in three years.
  5. Simon invested RM5000 into an account that pays 5% compounded semi-annually. He intended to keep the account untouched for five years. However, after three years he had to withdraw RM3000. Find the amount left in the account five years from the time he made his investment.
  6. Find the effective rate that is equivalent to (a)16% compounded quarterly, (b)15% compounded monthly.

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