Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Q 1: A commercial paper was deducted at a discount rate of 10% annually for (120 days), so the correct discount amounted to (50) dinars.
Q 1: A commercial paper was deducted at a discount rate of 10% annually for (120 days), so the correct discount amounted to (50) dinars. Required: 1- Nominal value (4 marks) 2- Commercial discount. Q 2: An investment company deposited the following amounts in one Banks: Using the tiger and denominator method (4 marks) Amount Interest rate Deposit date Balance date 2000 10 % 3000 4000 1/2/2021 4/4/2021 6/8/2021 25/8/2021 Required: 1- Total balance with valid interest 2- Total balance with commercial interest
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started