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Raj wanted to invest RM11,200 in an account for 11 months. Find the required interest rate for her fund to grow to RM12,894 after 9 months. O a. 16.1% оБ. 14.8% О с. 16.5% O d. 15.1%

Raj wanted to invest RM11,200 in an account for 11 months. Find the required interest rate for her fund to grow to RM12,894 after 9 months. O a. 16.1% оБ. 14.8% О с. 16.5% O d. 15.1%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer all questions: Raj wanted to invest RM11,200 in an account for 11 months. Find the required interest rate for her fund to grow to RM12,894 after 9 months. O a. 16.1% O b. 14.8% Oc. 16.5% O d. 15.1% Dina Cafe borrowed RM13,300 from a bank that offers 9.12% simple interest to be repaid in 8 months. Find the maturity value at the end of 8 months. a. RM21,386.40 O b. RM23,420.99 O c. RM21,210.33 O d. RM23,366.68 Nora invested money received from a competition for 3 years at 12% compounded quarterly. If she received RM6,386.40 interest on her investment during this time, find the original amount that she has invested. O a. RM18,000 O b. RM21,000 O c. RM22,000 O d. RM15,000
Transcribed Image Text:Answer all questions: Raj wanted to invest RM11,200 in an account for 11 months. Find the required interest rate for her fund to grow to RM12,894 after 9 months. O a. 16.1% O b. 14.8% Oc. 16.5% O d. 15.1% Dina Cafe borrowed RM13,300 from a bank that offers 9.12% simple interest to be repaid in 8 months. Find the maturity value at the end of 8 months. a. RM21,386.40 O b. RM23,420.99 O c. RM21,210.33 O d. RM23,366.68 Nora invested money received from a competition for 3 years at 12% compounded quarterly. If she received RM6,386.40 interest on her investment during this time, find the original amount that she has invested. O a. RM18,000 O b. RM21,000 O c. RM22,000 O d. RM15,000
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