One of the merchants submitted the following commercial papers to be discounted at the bank at a discount rate of 15% annually and a commission of 5/1000 and collection fees 2/1000 with a minimum of 15 riyals per paper and adding two days payment period:

A bill of nominal value of 2000 riyals maturing after 68 days

A bill of nominal value 4000 riyals maturing after 78 days

A bill of nominal value of 5000 riyals maturing after 98 days

Required

1) The value of the total expenses

2) Net worth of parts

3) Annual gross discount rate