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,500 into a bank account that paid an interest rate of 5.5 ths. Find the interest earned after 3 years.

,500 into a bank account that paid an interest rate of 5.5 ths. Find the interest earned after 3 years.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please solve question 3 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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