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QUESTION 3 a) Calvin needs RM4,500 now. Find the amount that she should borrow for 200 days from a bank that charges 8.5% bank discount
QUESTION 3 a) Calvin needs RM4,500 now. Find the amount that she should borrow for 200 days from a bank that charges 8.5% bank discount rate. b) Kiran received a promissory note at 6.85% simple interest rate on 3 June 2021. The note will mature on 11 September 2021. After holding the note for 55 days, he discounted the note at discount rate of 7% and received proceeds of RM8,500. Find the maturity value of the note. (10 marks)
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