A merchant bought goods worth 8,000 riyals, paid half the price in cash, and agreed to pay the rest at the end of 6 months, and the seller deducted the bill once received and found that the trade discount is 1.08 of the correct discount. If you know that discount rate equals interest rate, Calculate the following: I) Interest rate. II) The basic value of the bill.

Q: The original claim they actually pay is %.

A:

Q: The discounted value of a perpetuity is $20 000 and the yield on the fund is j2 = 8%. What payment…

A: EAR = 8.16%           1+8%22-1                     Apr (monthly compounding)…

Q: 2.7

A:

Q: A student loan of R25000 is to be repaid by regular monthly installments over 60 months. If the…

A:

Q: Bill borrows 3500 dollars, to be repaid with 12 equal monthly payments, the first coming 6 months…

A:

Q: Steven wants to buy a new couch priced at $558 and agrees to pay for it over two years with a…

A:

Q: Bill Seeker bought a boat costing $8000 with $2500 down, the balance plus add-on interest to be paid…

A:

Q: You applied for a loan with a bank and the P80,000.00 was approved at an interest rate of 14% of…

A: We know that interest  rate  I=PIN Where P=principle             I=rate of interest…

Q: A man borrows GH¢12,000.00 from the bank at 15% per annum for 3 years. Determine the sum of each…

A: Given A man borrows GH¢12,000.00 from the bank at 15% per annum for 3 years. To Determine the sum of…

Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed given the total payment…

Q: Juan De Mesa borrowed P50k at 2% per month payable in 36 equal end the month payments. a. How…

A: Juan De Mesa borrowed 50,000 at a interest rate of 2% payable in 36 equal end of the month payments.…

Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed for a loan, given the…

Q: The minimum monthly payment for Brian's credit card is 3.5% of his balance or $25, whichever is…

A: Brian's balance at the end of his billing cycle=$722 The minimum monthly payment for Brian's credit…

Q: Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a…

A:

Q: An insurance company pays claims for bills from a physical therapist as follows: They take the…

A: Given  Actual bill is reduced by 10% Percentage paid of the remaining amount =35%

Q: Vicki takes out a 10-year loan. The loan is repaid by making 10 level annual repayments at the end…

A:

Q: Rachel wants to buy a car, So she takes out an auto loan for $12,000. The interest on the loan is…

A:

Q: Travis Thompson uses his credit card to obtain a cash advance of​ $600 to pay for his textbooks in…

A: Given thatTravis Thompson uses his credit card to obtain a cash advance of​ $600 to pay for his…

Q: Stock Bonds and Mutual Funds/ Compound Ammount Formula/ Credit Card and Consumer Loan/APR 1. Mr.…

A: Given:      Loan amount d=980       Annual interest rate r=15%…

Q: b) A salary of £5 240 is to be increased by 1.2%. Calculate (i) the increase, (ii) the new salary.

A: Given that the salary of £5240 is increased by 1.2% To calculate  (i) the increase  (ii) the new…

Q: major airline is plannin

A: Given that a major airline is planning to purchase new airplanes. It wants to borrow $800 million by…

Q: You want to purchase an RV in 5 years that cost 80,000. You are going to make monthly deposits into…

A: Given Monthly deposit is Yearly deposit is