Nabilah started an online business by borrowing a startup capital of RM20,000 through a loan from Bank Bunga Melur. The bank charged her an interest rate of k% compounded every two months. After 4 years and 6 months, she repaid a total amount of RM25,473.67 to the bank. Find the value of k. No use excel.
Nabilah started an online business by borrowing a startup capital of RM20,000 through a loan from Bank Bunga Melur. The bank charged her an interest rate of k% compounded every two months. After 4 years and 6 months, she repaid a total amount of RM25,473.67 to the bank. Find the value of k. No use excel.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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5. Nabilah started an online business by borrowing a startup capital of RM20,000 through a loan
from Bank Bunga Melur. The bank charged her an interest rate of k% compounded every two
months. After 4 years and 6 months, she repaid a total amount of RM25,473.67 to the bank.
Find the value of k. No use excel.
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