BUSI 1003 Lecture Notes - Lecture 5: Cash Advance
11 Jun 2017
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P=1500 r=1. 05% t= jul 17/2016 dec 01/2016. P= . 53 deposit that needs to be made. I=22. 74 t=91/365 r= i/pt r= 22. 74/2400*(91/365) r=22. 74/2400*. 249315 rate=3. 8% It took 4 months to earn the interest. P = 45,000 r=1. 3% p. a r =1. 1 per six months. They will receive back ,585 back in one year. S=. 45 total amount at the end of the year. (after the second six months) Busi1003 marketing strategy r=995. 45/45000 *1 r=2. 21% per annum rate will need to be offered to match the earnings from (b) Principle amount of will have to be invested. Ling invested . 91 on may 28th to earn by august 4th 2015. 2249. 36 + 1780. 25 = . 61 total amount owing if they paid now. The amount owing as a single payment 75 days from now ,104. 13. Payments are due at 90days and 135 days after focal day. P1=x/1+0. 0925(90/365) = x/1+ 022808 = 1(x)/1. 022808 = 0. 977700. I= 58. 93 t=150 r =i/pt r= 58. 93/1545*150/365 r=9. 28% rate of interest.
