What amount will he receive assuming an interest rate of 4.005%? b) What amount will he receive assuming an interest rate of 5.50%? c) Suggest the option which will be enough to meet his house which is estimated to be OMR. 100000?
What amount will he receive assuming an interest rate of 4.005%? b) What amount will he receive assuming an interest rate of 5.50%? c) Suggest the option which will be enough to meet his house which is estimated to be OMR. 100000?
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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Question
Hashim wants to invest an amount of OMR. 9800 every year to buy a house at the end of 10 years. For this purpose, he wants to invest some money in a saving bank but does not know the exact amount of money he will get after 10 years
a) What amount will he receive assuming an interest rate of 4.005%?
b) What amount will he receive assuming an interest rate of 5.50%?
c) Suggest the option which will be enough to meet his house which is estimated to be OMR. 100000?
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