Posted by **rita** on Thursday, March 1, 2007 at 2:46pm.

jeromeborrowed an amount of money on 16th june 1999. he has to pay Ri7500 back on 25th feb 2000. what was the amount borrowed if simple interest of 26% is chargedd?

qn 2. For 20yrs sidney deposited R200 every month into an account. this account earned 15% intrest compounded monthly. After this period of time sidney withdrew his money, paid his tax of 45% on the amount and re-invested the money for 5yrs at an intrest rate of 16% per annum compounded quarterly. the amount that sidney will recieve at the end of the five years equals:

What does the Ri (or R) stand for? Chinese Renmibi? British Pounds?

From June 16 to Feb 25 of the next year is 195 days. The interest due will be

195/365 x 0.26 x (Principle)= 7500

If that is an interest-only payment, the loan principle (the original amount borrowed) is 53,994. You decide what the currency units are.

R stands for South African Rands

## Answer This Question

## Related Questions

- lehman - Investment A clothing company borrows $700,000. Some of the money is ...
- math - mr.thomas wants to buy a boat. he must make 548 monthly payments to pay ...
- algebra - mr.thomas wants to buy a boat. he must make 548 monthly payments to ...
- algebra - mr.thomas wants to buy a boat. he must make 548 monthly payments to ...
- Math - Interest is a concept familiar to most people: every credit card in ...
- algebra - an individual has two low interest loans, one at 4% interest and the ...
- Survey of Mathematics - On January 5, Ebony Davis borrowed $6,500 on a simple ...
- Survey of mathematics - On January 5, Ebony Davis borrowed $6,500 on a simple ...
- math - Mr. Jones got a loan for a sum of money, and at the time of repayment he ...
- Math - #1 Mr. Jones got a loan for a sum of money, and at the time of repayment ...

More Related Questions