c) Zayd invested RM7,000 in Bank A three years ago. The bank pays 8% simple interest per annum. He decided to withdraw a

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

c) Zayd invested RM7,000 in Bank A three years ago. The bank pays 8% simple interest per annum. He decided to withdraw a

Post by answerhappygod »

C Zayd Invested Rm7 000 In Bank A Three Years Ago The Bank Pays 8 Simple Interest Per Annum He Decided To Withdraw A 1
C Zayd Invested Rm7 000 In Bank A Three Years Ago The Bank Pays 8 Simple Interest Per Annum He Decided To Withdraw A 1 (18.21 KiB) Viewed 12 times
c) Zayd invested RM7,000 in Bank A three years ago. The bank pays 8% simple interest per annum. He decided to withdraw all the money accumulated in that bank and invest in Bank Z that gives 5% interest compounded quarterly. He plans to keep the money for 4 years in Bank Z. Calculate the accumulated amount at the end of the fourth year. (4 marks)
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”