This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Islamic banking is being introduced in Oman, such that no interest is given on the promissory notes. ... (Read 82 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
on: Jun 6, 2019

Question 1

CIBC approved a $10 000 personal line of credit on a demand basis to Tara, who takes an advance of $2240 on 1st of every month to settle her monthly budget. She settles her loan when she receives her pay on 15th of every month. Interest at the rate of prime (3%) plus 2.75% is charged to the account at the bank on the 15th of each month. What is Tara's payment each month to settle the loan?
◦ $2263.63
◦ $2245.29
◦ $5.29
◦ $2368.80
◦ $2240

Question 2

Islamic banking is being introduced in Oman, such that no interest is given on the promissory notes. Compute the present value on the date of issue of a non-interest-bearing, worth $850 000, three-month promissory note dated September 1, 2013 (plus 3 days of grace), if money is worth 12.5% in Oman.
◦ $877 363
◦ $847 272
◦ $823 490
◦ $26 510
◦ $824 311
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by EAugust on Jun 6, 2019

gstein359

  • Sr. Member
  • ****
  • Posts: 293
Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


EAugust

  • Hero Member
  • *****
  • Posts: 550
Reply #2 on: Jun 6, 2019
Thank you!


gstein359

  • Sr. Member
  • ****
  • Posts: 293
Reply #3 on: Jun 6, 2019
Always glad to help...


« previous next »
 

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

In 1979 Islamic militants held American embassy workers hostage in Tehran. In 1979 Islamic militants held American embassy workers hostage in Tehran.
Maternity NCLEX Notes Maternity NCLEX Notes
How to solve a linear algebraic bank interest problem with two unknowns How to solve a linear algebraic bank interest problem with two unknowns
How to calculate compound interest (Part 2) How to calculate compound interest (Part 2)
AAC, Inc. is planning to issue $5,000,000 in 180-day maturity notes paying a rate of 12 percent ... AAC, Inc. is planning to issue $5,000,000 in 180-day maturity notes paying a rate of 12 percent ...
The treasurer of a union proposes changing the method of compounding interest on premium ... The treasurer of a union proposes changing the method of compounding interest on premium ...
Video: Cellular Respiration & Glucose Mobilization (Glucose transport & Phosphorylation of Glucose)

For a complete list of videos, visit our video library