Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 14 Not yet answered Marked out of 6.00 Flag question Answer ANY THREE from the following (3*2=6marks) a-Saif is interested to have RO

image text in transcribed

Question 14 Not yet answered Marked out of 6.00 Flag question Answer ANY THREE from the following (3*2=6marks) a-Saif is interested to have RO 35,000 in his bank account at the end of 10 years. If the bank pays a 5% interest rate how much he must deposit each year to get 35,000. (2Marks) b-If you have a principle of 300 and the interest rate given 3% what amount will you get after 35 weeks and 150 days? (2Marks) c-What is the future value of 50,000 at 2.5% after 3 years? (2Mark) d-Salim has offered a choice to Ahmed three alternative 5,000 now; $1,200 a year for eight years; or $12,000 at the end of 10 years. Assuming Ahmed could earn 10% annually, which alternative should Ahmed choose and why? (2Marks) e-Find the present value an annuity 10,000 at an interest rate of 12% after 8 years. (2Marks) Files Accepted file types Maximum size for new files: 10MB

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_2

Step: 3

blur-text-image_3

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

Cost Accounting Traditions and Innovations

Authors: Barfield Jesse, Raiborn Cecily, Kinney Michael

4th edition

324026455, 978-0324026450

More Books

Students also viewed these Accounting questions