A. Ahmed deposits 50,000 DHS into a savings account at Oryx Bank, which has a rate of 2.5%. Calculate the simple interest amount earned at the end of the first year. Ahmed earned 1250 DHS. B. Khalifa took out a simple interest loan for 18,000 DHS for two years at a rate of 6.75% to purchase a used car. Calculate the simple interest amount paid at the end of two years. Khalifa paid DHS.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
icon
Related questions
Question
A. Ahmed deposits 50,000 DHS into a savings account at Oryx Bank, which
has a rate of 2.5%.
Calculate the simple interest amount earned at the end of the first year.
Ahmed earned 1250 DHS.
B.
Khalifa took out a simple interest loan for 18,000 DHS for two years at a
rate of 6.75% to purchase a used car.
Calculate the simple interest amount paid at the end of two years.
Khalifa paid
DHS.
Transcribed Image Text:A. Ahmed deposits 50,000 DHS into a savings account at Oryx Bank, which has a rate of 2.5%. Calculate the simple interest amount earned at the end of the first year. Ahmed earned 1250 DHS. B. Khalifa took out a simple interest loan for 18,000 DHS for two years at a rate of 6.75% to purchase a used car. Calculate the simple interest amount paid at the end of two years. Khalifa paid DHS.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,