math
posted by fizz .
1.Joanne borrowed RM5000 for 180 days at a discount rateof 8 1/2 %.find the proceeds.
2.A businessman needs RM12000 for four months. What should be the size of the loan if his bank charges a discount rate of 9.5%.

math 
Henry
1. P = Po  Po*r*t
P = 5000  5000*(0.085/360)*180
P = 5000  212.50 = $4787.50 = Amt.
received by Joanne(Proceeds).
2. P = Po  Po*r*t = 12,000
Po  Po*(0.095/360)*4 = 12,000
Po  Po*0.00106 = 12000
0.99894Po = 12,000
Po = $12,012.68 
math 
fizz
helo sir.
the answer question 2 in my book is 12392,43.why not same with your answer.
12000 (1+o.o95(4/12))=12380
now i want to know about how to solve. 
math 
fizz
5.Albert needs $2000 now. Find the amount that he should borrow for 120 days from a bank that charges 8% discount

math 
Henry
Correction: My calculations was based on
a 4day loan; it should be for 4 months:
2. Pr = Po  Po*r*t = 12,000
Po  Po*(0.095/12)*4 = 12,000
Po  Po*0.03167 = 12000
0.96833Po = 12,000
Po = $12,392.46 
math 
Henry
5. Ar = Ab  Ab*r*t = 2,000
Ab  Ab*(0.08/360)*120 = 2,000
Ab  0.02667Ab = 2000
0.97333Ab = 2000
Ab = $2,054.79 = Amount borrowed. 
math 
fizz
tq sir/madam..
A 7%,6O day note was discounted at 15 days before the maturity date. If the discount rate was 5.5% and the proceeds received were $ 997,77,find
a)the amount of discount that was charged
b)face value
a) 997,77= (1+0.07(60/360))
=
i cant get the answer.
what is the formula 
math 
Henry
a. Ar = Ab  Ab*r*t
Ar = Ab  Ab*(0.055/360)*(6015)=997.77
Ab  Ab*0.006875 = 997.77
0.993125Ab = 997.77
Ab = $1004.68 = Amt. borrowed.
Ac = AbAr = 1004.68  997.77 = $6.91 = Amt. charged.
b. Face Value = Ab = $1004.68 
math 
fizz
helo sir
the answer in my book for a) is $2.29
and b) is $988.53
how can ? 
math 
fizz
A sum of money,X was deposited in a saving account at 10 percent compounded daily on 25 july 1993. on 13 august 1993, rm600 was withdrawn and the balance as on 31 december 1993 was RM 8900.calculate the value of X using exact time and 360 day year.
help me sir.the answef of x= $9112.37 
math 
fizz
10.On 16 April 1990, $5000 was invested at 6% compounded semi annually.Find the amount accumulated on 16 October 1993 if the rate was charged to 8% compounded quarterly beginning 16 april 1992.
5000(1+0.06/2)^(2x1)
=5304.50
5304.50(1+0.08/4)^(4x1) 
math 
Henry
10. P1 = Po(1+r)^n
Po1 = $5,000
r = (6%/2)/100% = 0.03
n = 2comp/yr. * 2yrs. = 4 Compounding
periods.
P1 = 5000(1.03)^4 = $5627.54 in 2 yrs.
P2 = P1(1+r)^n
r = (8%/4)/100% = = 0.02
n = 4comp/yr. * 1.5yrs. = 6 Compounding
periods.
P2 = 5627.54(1.02)^=$6337.53 in 3.5 yrs. 
math 
fizz
9.A 10%,100day note was dated 20 september 1992.the maturity value of the note was $3083.33.If the note was discounted on 17 november 1992 at 12%,FIND
i) the maturity date of the note
= 29 december 1992
ii)the face value of the note
$3083.33 = (1+0.1(100/360)
= 1.0278
= 3083.33/1.0278
= 2.999.9
or
= (10.1(100/360)
= 0.9722
= 3083.33/0.9722
= 3171.49
but the answer is = 5100
actually i still confuse what actually formula to find face value.we need  or + ?
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1.Joanne borrowed RM5000 for 180 days at a discount rateof 8 1/2 %.find the proceeds. 2.A businessman needs RM12000 for four months. What should be the size of the loan if his bank charges a discount rate of 9.5%.