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Lina saved RM4000 in a bank that offered simple interest at 10% per annum. After 3 years, she withdrew a sum of RM y from her account. Immediately after her withdrawal, she had a balance of RM5000 in her account. Find value of y. 1.

Lina saved RM4000 in a bank that offered simple interest at 10% per annum. After 3 years, she withdrew a sum of RM y from her account. Immediately after her withdrawal, she had a balance of RM5000 in her account. Find value of y. 1.

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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Lina saved RM4000 in a bank that offered simple interest at 10% per annum. After 3 years, she withdrew a sum of RM y from her account. Immediately after her withdrawal, she had a balance of RM5000 in her account. Find value of y. 1. 2. Zaim bought a low-cost terrace house for RM35,000. He paid a 10% down payment and the balance was borrowed from bank that charged interest at the rate of 8.5% compounded monthly. This loan will be repaid in monthly installment for 10 years. Find (a) the monthly payment and (b) the total interest he needs to pay.
Transcribed Image Text:Lina saved RM4000 in a bank that offered simple interest at 10% per annum. After 3 years, she withdrew a sum of RM y from her account. Immediately after her withdrawal, she had a balance of RM5000 in her account. Find value of y. 1. 2. Zaim bought a low-cost terrace house for RM35,000. He paid a 10% down payment and the balance was borrowed from bank that charged interest at the rate of 8.5% compounded monthly. This loan will be repaid in monthly installment for 10 years. Find (a) the monthly payment and (b) the total interest he needs to pay.
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