BMNG 301: FUNDAMENTAL OF FINANCIAL MNAGEMENT FIRST ASSIGNMENT: submission date is Saturday 4th MARCH, 2022 by 10pm Q1 Th

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Bmng 301 Fundamental Of Financial Mnagement First Assignment Submission Date Is Saturday 4th March 2022 By 10pm Q1 Th 1 (59.49 KiB) Viewed 40 times

BMNG 301: FUNDAMENTAL OF FINANCIAL MNAGEMENT FIRST ASSIGNMENT: submission date is Saturday 4th MARCH, 2022 by 10pm Q1 The difference between Compound Interest and Simple Interest on a certain sum of money at 10 % per annum for 3 years is Rs. 930. Find the principal if it is known that the interest is compounded annually Q2 What would $1000 become in a saving account at 3% per year for 3 years when the interest is not compounded (simple interest)? What would the same amount become after 3 years with the same rate but compounded annually? Q3 $1200 is placed in an account at 4% compounded annually for 2 years. It is then withdrawn at the end of the two years and placed in another bank at the rate of 5% compounded annually for 4 years. What is the balance in the second account after the 4 years. 04 An amount of $1,500 is invested for 5 years at the rates of 2% for the first two years, 5% for the third year and 6% for the fourth and fifth years all compounded annually. What is the total amount at the end of the 5 years? Q5 A principal of $2000 is placed in a savings account at 3% per annum compounded annually. How much is in the account after one year, two years and three years? 1