Rahma borrowed OMR 600 at the rate of 12% from Bank Dhofar for 6 years. Find the interest she will pay for the loan.
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Q: Rahma borrowed OMR 600 at the rate of 12% from Bank Dhofar for 6 years. Find the interest she will…
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Rahma borrowed OMR 600 at the rate of 12% from Bank Dhofar for 6 years. Find the interest she will pay for the loan.
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- Lamis borrowed OMR 10,000 from Bank Muscat with an interest rate of 5% for 3 years. The amount she has to pay after 3 years isSalma borrowed $600from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $84. As a percentage, what was the annual interest rate of her loan?Eleven months after borrowing money, Dorah pays an interest of ₱2,800. How much did she borrow if the simple interest rate was 11 and (1/3)% ?
- Stephanie borrows Php77,000 for 10 months at an interest rate of 12% per year. Find the interest earned and the total amount she has to pay. a) How much is the interest earned? b) How much is the total amount that Stephanie has to pay?Alvin borrows some money at the rate of 6% p.a. for the first two years. He borrows the money at the rate of 9% p.a. for the next three years, and at the rate of 14% p.a. for the period beyond five years. If he pays a total interest of RM11,400 at the end of nine years, how much money did he borrow?Sixteen Months after borrowing money, Ronron Cayabyab Pays an interest of ₱8,426. How much did he borrow if the simple interest rate is 12 1/4%?
- Ahmed borrowed OMR 500 at 11% for 2 years. Find the interest he will pay on the loan. How much will he pay to the bank at the end of the two years?Jack has borrowed money from his financial institution, and has agreed to pay $200 at the end of each month for six years. The bank charges interest on the loan at 6.6% compounded quarterly. How much did Jack borrow? How much is the cost of financing (The amount of interest to be paid)?Maya borrowed $700 from a lender that charged simple interest at an annual rate of 6%. When Maya paid off the loan, she paid $126 in interest. How long was the loan for, in years? If necessary, refer to the list of financial formulas.
- Engr. Tongol borrowed money from a loan shark. He receives from the loan shark an amount of P 134,200 and promise to repay P 150,000 at the end of 1 year and 9 months. What is the simple interest rate?Cathy borrowed a student loan for $700 and agreed to pay off the loan $740 one month later. what is the annual interest rate? assume it's computed using simple intrestReggie availed of a deferred payment scheme from a bank that gave her an option to pay ₱5,500 monthly for 2 years. The first payment is due after 3 months. How much is the present value of the loan if the interest rate is 12% converted monthly?