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QUESTION 2 Anzalna now needs RM20,000 to start from a bank for 3 years at 6.8% bank discount rate. food business. Find how much she should borrow

QUESTION 2 Anzalna now needs RM20,000 to start from a bank for 3 years at 6.8% bank discount rate. food business. Find how much she should borrow

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 36P
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Please solve question 2 ASAP. Thank you

QUESTION 1 RM3,500 was deposited into an account on 12 July 2020. If the simple interest rate was 4.65% per annum, find the amount in the account on 26 November 2020 using exact time and exact simple interest. QUESTION 2 Anzalna now needs RM20,000 to start a food business. Find how much she should borrow from a bank for 3 years at 6.8% bank discount rate. QUESTION 3 Deborah deposited RM7,500 into a bank account that paid an interest rate of 5.5% compounded every 6 months. Find the interest earned after 3 years.
Transcribed Image Text:QUESTION 1 RM3,500 was deposited into an account on 12 July 2020. If the simple interest rate was 4.65% per annum, find the amount in the account on 26 November 2020 using exact time and exact simple interest. QUESTION 2 Anzalna now needs RM20,000 to start a food business. Find how much she should borrow from a bank for 3 years at 6.8% bank discount rate. QUESTION 3 Deborah deposited RM7,500 into a bank account that paid an interest rate of 5.5% compounded every 6 months. Find the interest earned after 3 years.
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