SIMPLE INTEREST 1. How much interest would be due at the end of one year on a loan of BD10,000 if the simple interest is 12% per year?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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SIMPLE INTEREST

B. SIMPLE INTEREST
1. How much interest would be due at the end of one year on a loan of
BD10,000 if the simple interest is 12% per year?
2. What is the annual rate of interest on a BD1,000 loan in which all
interest is paid at the end of each year, and a total of BD1,125 must be
repaid at the end of the year?
3. A student obtains a loan to pay one year of college tuition, which costs
$18,000 with 6% which he promise to pay starting from August 1 until
December 31 on the same year. What is the value of the exact simple
interest and the total amount payable.
Transcribed Image Text:B. SIMPLE INTEREST 1. How much interest would be due at the end of one year on a loan of BD10,000 if the simple interest is 12% per year? 2. What is the annual rate of interest on a BD1,000 loan in which all interest is paid at the end of each year, and a total of BD1,125 must be repaid at the end of the year? 3. A student obtains a loan to pay one year of college tuition, which costs $18,000 with 6% which he promise to pay starting from August 1 until December 31 on the same year. What is the value of the exact simple interest and the total amount payable.
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