Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please hele me . Please 1. Lina saved RM4000 in a bank that offered simple interest at 10% per annum. After 3 years, she withdrew

Please hele me . Please

image text in transcribed

1. Lina saved RM4000 in a bank that offered simple interest at 10% per annum. After 3 years, she withdrew a sum of RM y from her account. Immediately after her withdrawal, she had a balance of RM5000 in her account. Find value of y. (3 Marks) 2. Zaim bought a low-cost terrace house for RM35,000. He paid a 10% down payment and the balance was borrowed from bank that charged interest at the rate of 8.5% compounded monthly. This loan will be repaid in monthly installment for 10 years. Find (a) the monthly payment and (b) the total interest he needs to pay. (5 Marks) 3. Zuraisya borrows RM9000 for 4 months from a lender who charges a discount rate of 5%. Find: a) the amount of bank discount. (1.5 Marks) b) the proceeds. (1.5 Marks) (Total: 3 Marks) 4. An invoice of RM15,000 and dated 18 April 2016 is offered 30% trade discount and cash discount terms of 9/10, n/30. Find: a) the amount of trade discount offered. (2 Marks) b) the amount of cash discount offered. (2 Marks) c) the net payment if the invoice is paid on 28 April 2016. (2 Marks) (Total: 6 Marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economics And Finance Of Professional Team Sports

Authors: Daniel Plumley, Rob Wilson

1st Edition

0367655667, 978-0367655662

More Books

Students also viewed these Finance questions

Question

In your own words, summarize the primary objectives of unions.

Answered: 1 week ago