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Determining the short-term loans

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(a) What sum of money will become RM 15,000 in three years at a simple interest rate of 8% per annum?

(b) A certain sum of money is invested now. This investment will be worth RM5500 after fifteen months and RM5800 after twenty-four months. Find the original principal and the simple interest rate that was offered.

(c) A finance company charges a simple interest of 18% per year for short-term loans. If a loan of RM 15,000 was charged RM 337.50, how long was the term of the loan?

Reference no: EM132525384

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