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Patric borrows money from Zanele at a simple discount rate of 9,75% per annum. He must pay him R35 000 in 27 months’ time. The amount of money that he receives from Zanele now is [1] R27 321,88. [2] R44 835,87. [3] R28 389,51 [4] R42 678,13. [5] R28 703,23

Patric borrows money from Zanele at a simple discount rate of 9,75% per annum. He must pay him R35 000 in 27 months’ time. The amount of money that he receives from Zanele now is [1] R27 321,88. [2] R44 835,87. [3] R28 389,51 [4] R42 678,13. [5] R28 703,23

Essentials Of Investments
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
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Patric borrows money from Zanele at a simple discount rate of 9,75% per annum. He must pay him R35 000 in 27 months’ time. The amount of money that he receives from Zanele now is

[1] R27 321,88.

[2] R44 835,87.

[3] R28 389,51

[4] R42 678,13.

[5] R28 703,23

 
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