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Question 4 (a). A borrower entered a bank and borrows GH 100.000.000 at an interest rate of 15%. He intends to pay a supplier in

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Question 4 (a). A borrower entered a bank and borrows GH 100.000.000 at an interest rate of 15%. He intends to pay a supplier in the USA. The prevailing exchange rate of the Ghanaian cedi was GHe 2.00 - $1.00. ar that time Require: i. Calculate the amount payable as interest on the loan to the lending bank (4Marks) ii. Calculate in dollars the amount payable to the USA supplier (4Marks) (b). Sape & Son, a Ghanaian importer has entered an agreement on January 1" 2017 to be supplied goods with the value of GH 2,000,000.00 by a UK manufacturer. The contract attracted twenty percent (20%) interest for late payment after the date of the agreement. The following rates apply to the contract: Spor rute GHe 2.50 LI Forward rate Glle 2.00 1,00 Require: i. Calculate the amount payable if the Ghanaian dealer has paid the supplier on the day of the contract. (3Marks) Calculate the amount payable, if the Ghanaian dealer has chosen to pay the supplier on March 1" 2017. (4Marks)

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