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7. (a) Find the total money a customer needs to pay back for a bank loan below: Annual Interest rate = 12%, Loan RM600, loan period=90 days. (b) A consumer loan of RM2000 at 12% compounded monthly is to be amortized by 4 monthly payments. Calculate the monthly payment and construct an amortization schedule. 6. Find the future value of RM10,000 which was invested for (a) 3 years at 6% compounded annually. (b) 5 years 6 months at 6% compounded monthly. (c) 15 years 7 days at 6% compounded daily.

7. (a) Find the total money a customer needs to pay back for a bank loan below: Annual Interest rate = 12%, Loan RM600, loan period=90 days. (b) A consumer loan of RM2000 at 12% compounded monthly is to be amortized by 4 monthly payments. Calculate the monthly payment and construct an amortization schedule. 6. Find the future value of RM10,000 which was invested for (a) 3 years at 6% compounded annually. (b) 5 years 6 months at 6% compounded monthly. (c) 15 years 7 days at 6% compounded daily.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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7. (a) Find the total money a customer needs to pay back for a bank loan below: Annual Interest rate = 12%, Loan RM600, loan period=90 days. (b) A consumer loan of RM2000 at 12% compounded monthly is to be amortized by 4 monthly payments. Calculate the monthly payment and construct an amortization schedule.
Transcribed Image Text:7. (a) Find the total money a customer needs to pay back for a bank loan below: Annual Interest rate = 12%, Loan RM600, loan period=90 days. (b) A consumer loan of RM2000 at 12% compounded monthly is to be amortized by 4 monthly payments. Calculate the monthly payment and construct an amortization schedule.
6. Find the future value of RM10,000 which was invested for (a) 3 years at 6% compounded annually. (b) 5 years 6 months at 6% compounded monthly. (c) 15 years 7 days at 6% compounded daily.
Transcribed Image Text:6. Find the future value of RM10,000 which was invested for (a) 3 years at 6% compounded annually. (b) 5 years 6 months at 6% compounded monthly. (c) 15 years 7 days at 6% compounded daily.
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