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(Solved): a.) Ali took a bank loan of RM 30,000. The bank charges him a simple interest rate of 6.2% per annum ...



a.) Ali took a bank loan of RM 30,000. The bank charges him a simple interest rate of 6.2% per annum. If he has to pay back RM 30,100, find the term of the loan. 

 

b.) How much money should be invested now at 8% per annum so that after 2 years the amount will be RM 10,000 when interest is compounded: 

i. annually.

ii. quarterly



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a) Hello, given, Initial principal amount, P=30,000 Final Amount, A=30,100 Annual interest rate, r=6.2% We have, A=P(1+rt) Where 't' is time period in
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