Find the amount in the account after ten months

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Reference no: EM132639629

Question (a) Hamid invests $8,560 at 4 percent simple interest in a bank. Find the amount in the account after 10 months.

Question (b) Donald saves $15,000 on 20 March 2019 in an account that offer r % simple interest per year. If the exact simple interest earned on 8 June 2019 is $80.00.

(i) Find the exact time of the investment.

(ii) Find the value of r using exact time.

Question (c) A promissory note to Siti for $5000 at 8% annual simple interest from May 5 to September 5.

(i) Find the bank discount using exact time and ordinary interest.

(ii) Find the proceeds using ordinary interest.

Reference no: EM132639629

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