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## JULY SEMESTER 2015

1. Razif invested a sum of money, k in a bank with simple interest of 8.6%. The
accumulated amount after t days was RM15,000 with an interest of RM1,000. Using the
Bankers Rule, calculate t.

2. A loan of RM P was made on 29th November 2011 at simple interest rate of 8%. The
accumulated amount on 27th February 2012 was RM15,300. Using Bankers Rule, find :
a. The term of the loan in days using exact time.
b. The value of P.

3. Mr. Shazwan took a personal loan of RM7,000 on 20th March 2011 from a bank that
charged a simple interest rate of 9%. The loan was settled on 15th August 2011. Find :
a. The term of the loan in days using exact time.
b. The amount paid on the 15th August 2011 using Bankers Rule

4. Diana deposited RM5,000 on 2nd March 2009. What was the amount in the account on
29th October 2009 if the simple interest rate was 6% per annum with exact time and
exact simple interest?

5. John had saved RM5,000 in a saving account five years ago that offers m% simple
interest per annum. Today, the accumulated amount is RM9,500.
a. What is the rate of simple interest given?
b. How many years from today will the saving amount to RM21,200?
6. On 30th August 2011, Hakimi paid RM8,200 for his loan of RM8,000 made on certain
date. The term of the loan was 122 days and he was charged r% simple interest. Using
approximate time and exact interest, determine :
a. The date of the loan.
b. The simple interest rate, r.

7. Berjaya Holding invested RM18,000 on 21st January 2008 into an investment scheme at
r% per annum interest rate. The investment will amounted RM18,377 after 260 days.
Find :
a. The maturity date.
b. The simple interest rate r% by using exact simple interest.
c. The simple interest rate r% by using the Bankers Rule.

## 8. A sum of money, RM k was deposited in a savings account with interest 8%

compounded quarterly. After one year, RM2,000 was withdrawn. Three years after the
withdrawal, the balance was RM12,865.29. Find the value of k.

9. Three years ago, Boboy had saved RM5,000 in an account that pays 5% interest
compounded every 3 months. Today he intends to withdraw y ringgit from his savings. If
the amount in the account 2 years after the withdrawal is RM3,500, find the value of y.

10. Misbun deposited RM10,000 three years ago into an account that pays 6% compounded
monthly. Today he plans to add RM x into the same account. Find the value of x if he
plans to have RM30,000 in the account 10 years from today.

11. Harry opened a savings account which offered an interest rate of 11% compounded
every 4 months with an initial deposit of RM2,000. Two and a half year later, he
deposited RM2,500 into the same account.
a. Find the amount accumulated four years after the initial deposit.
b. How much the total in the account 3 years after the second deposit.
12. Dania saved RM5,550 in a bank for 7 years and 9 months. The bank offered an interest
rate of 5.05% compounded every 4 months for the first 4 years and 6% compounded
monthly for the rest of the period. Find the future value of this savings and the total
interest obtained.

13. Salma took a loan of RM30,000 from a financial department that charges 4.8%
compounded monthly. Find the number of payments required if he has to pay back
RM480 every month in order to settle the loan.

14. Amani took a personal loan of RM10,000 and paid equally monthly payments for five
years at an interest rate of 6% compounded monthly.
a. Find the monthly payment.
b. Calculate the total interest charged.
c. If Amani fails to pay the first five monthly payments, find the amount she has to pay
on the sixth payments in order to settle the outstanding arrears.
d. Find the Outstanding principal balance if she decided to settle the loan immediately
after the 50th payment.

15. Suresh bought a car for RM 50,000. He took a loan from a bank for 7 years at 12%
compounded monthly.
a. Find the monthly payment.
b. Calculate the total interest charged.
c. If he has not paid for the 4 monthly payments, how much should he pay on the 5 th
payment to settle all the outstanding arrears?
d. If he has paid for the 4 monthly payments and wants to settle all the outstanding
balance on the 5th payment, how much should this payment be? How much interest
was paid?
e. Immediately after paying the 24th monthly payment, he wants to settle the balance
of the debt with a single payment. How much should this payment be?
f. Kelvin bought a car by making a down payment of RM10,000 and had to settle
monthly payments of RM828.70 for 84 months.
16. Kelvin bought a car by making a down payment of RM10,000 and had to settle monthly
payments of RM828.70 for 84 months.
a. If money was worth 3.75% compounded monthly, find the cash price of the car.
b. If Kelvin did not pay the first 10 repayments, how much should he pay on the 11th
month to settle the arrears? How much the interest charged?
c. After paying the 50th payment, he wants to settle the balance of the debt
immediately. How much should this payment be?

17. Elfira took a loan that charges interest of 7% compounded quarterly to buy a single
storey terrace house. She paid the down payment of RM25,000 and needs to repay the
loan in 30 years time with payment of RM1020 every 3 months. Find:
a. The cash price of the house.
b. The total interest charged.
c. The Outstanding balance if Elfira decided to settle the loan immediately after the
100th payment.