Q20: Mr. Raafy opened a saving account in HBL on 1* August 2000 and initially he deposited Rs. 25,000 in his account. On 1* March 2006, he makes another deposit of Rs. 75,000 in his account. On 1s January 2009, he had withdrawn Rs. 35,000 from his account. If he has Rs 80,000 in his account on 31st December 2011, calculate at which interest rate HBL had opened his account in 2000 assuming that HBL is providing simple interest on the savings account.

Q20: Mr. Raafy opened a saving account in HBL on 1* August 2000 and initially he deposited Rs. 25,000 in his account. On 1* March 2006, he makes another deposit of Rs. 75,000 in his account. On 1s January 2009, he had withdrawn Rs. 35,000 from his account. If he has Rs 80,000 in his account on 31st December 2011, calculate at which interest rate HBL had opened his account in 2000 assuming that HBL is providing simple interest on the savings account.

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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Jamila wants to deposit OMR 5000 in a bank fixed deposit for 8 years. She has the following bank deposit options: a) Bank Muscat on maturity will give you OMR 6700. b) Bank Dhofar on maturity will give you OMR 6720. c) National Bank on maturity will give you OMR 6750. d) Help Jamila to find as to what rate of interest bank is offering
3. Mr. Econ borrowed money from the bank last January 16, 2005. He receives from the bank P 440,000.00 and promised to pay P 500,000.00 on October 12, 2005. Compute: (a) Simple interest rate; and (b) Discount Rate.
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On March 24, 2014, Brendan and Madison borrow $18,000 each at a simple interest rate r = 12%. Brendan’s bank calculates interest using exact interest, while Madison's bank uses the Banker's Rule (ordinary interest). Let X = amount Brendan pays back on September 24, 2014, and Y = amount Madison pays back on September 24, 2014. What is the value of X - Y?
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A man loans P112,735 on March 9, 2010 and promise to pay the amount on July 17, 2014 at simple interest of 9.63%. Determine the following: 1. Exact simple interest. 2. Ordinary simple interest.
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2. On April 1 Kendrick opened a savings account at a bank that paid 3.55 $1,000. On April 20 he withdrew $500. On April 30 the bank calculated the daily percent interest. His initial deposit was $3,200. On April 9 he deposited another interest. a) How much simple interest did his money earn? b) How much was in the account after the bank calculated the daily interest on April 30?
nt Shawn Bixby borrowed $25,000 on a 120-day, 15% note. After 60 days, Shawn paid $2,800 on the note. On day 96, Shawn paid an additional $4,800. Use ordinary interest. a. Determine the total interest use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Total interest b. Determine the ending balance due use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Ending balance due

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