RomZar Sdn Bhd takes a simple interest, 180-day note from a SoonWay Supplier with a face value RM 17,500, at a rate 9.5%. Due to emergency, SoonWay Supplier need an urgent cash to settle their debt and sell the promissory notes 100 days late at the discount rate of 11%. Find the bank profit and proceeds. Rossa invested RM 3,600 in a mutual fund containing bonds. Find the interest rate if she earned RM 237.50 in interest in 250 days.
RomZar Sdn Bhd takes a simple interest, 180-day note from a SoonWay Supplier with a face value RM 17,500, at a rate 9.5%. Due to emergency, SoonWay Supplier need an urgent cash to settle their debt and sell the promissory notes 100 days late at the discount rate of 11%. Find the bank profit and proceeds. Rossa invested RM 3,600 in a mutual fund containing bonds. Find the interest rate if she earned RM 237.50 in interest in 250 days.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 4P: Gifts Galore Inc. borrowed 1.5 million from National City Bank. The loan was made at a simple annual...
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