A person planned to start a business venture in Muscat and decided to borrow a loan...

A person planned to start a business venture in Muscat and decided to borrow a loan of OMR 52000 from Bank Muscat at an interest rate of 18 % per annum. Determine the following
a) Simple interest and total amount due after 12 years if no intermediate payments are made and interest is compounded annually.
b) Compound interest and total amount due after 9years if no intermediate payments are made and interest is compounded annually.
c) Compound interest after 9 years if the interest is compounded after 3 months.
d) Difference between simple interest and compound interest after 8 years.
e) Nominal and effective interest rate if the interest is compound after 2 months.

##all the answers must be perfect without any decimal place

Expert Solution

Rahul Sunny answered 8 months ago

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