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 188 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?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

The Dingo was the first placental mammal introduced to Australia, around 4000 years ago The Dingo was the first placental mammal introduced to Australia, around 4000 years ago
Some notes to help chapter3 basic biotechnology Some notes to help chapter3 basic biotechnology
genetics notes genetics notes
In 1979 Islamic militants held American embassy workers hostage in Tehran. In 1979 Islamic militants held American embassy workers hostage in Tehran.
Confusing Lecture, Boring Lecture, Boring Notes, Confusing words Confusing Lecture, Boring Lecture, Boring Notes, Confusing words
Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to ... Nick buys a $25 000, 5.4% bond with quarterly interest coupons, 3 years before maturity, to ...
Video: Definition of heart rate

For a complete list of videos, visit our video library