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Mat 112

The document contains 4 math questions about promissory notes, compound interest rates, and finding interest rates. Question 1 involves finding the maturity value and discount amount of a note discounted 3 months early. Question 2 uses the Banker's Rule to find the maturity date and face value of a 70-day note. Question 3 calculates the amount needed to be invested today to afford an item in 4 years given a monthly compound interest rate. Question 4 finds the interest rate charged on a loan if the repayment amount after 5 years is given.

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15 views

Mat 112

The document contains 4 math questions about promissory notes, compound interest rates, and finding interest rates. Question 1 involves finding the maturity value and discount amount of a note discounted 3 months early. Question 2 uses the Banker's Rule to find the maturity date and face value of a 70-day note. Question 3 calculates the amount needed to be invested today to afford an item in 4 years given a monthly compound interest rate. Question 4 finds the interest rate charged on a loan if the repayment amount after 5 years is given.

Uploaded by

2022846282
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CONFIDENTIAL 3 CS/DEC 2021/MAT112

PART B

QUESTION 1
A 8-month promissory note would mature on 16 June 2021. The note was discounted 3 months
before the maturity date at a discount rate of 6% and the proceeds received was RM6,300. Find:
a) the maturity value. RM 6,395.94

(3 marks)
RM 95.94
b) the amount of discount.
(2 marks)

QUESTION 2
Mr. Omikeron received a 70-day promissory note on 3rd October 2021 with a 15% simple interest
rate per annum. The maturity value of the note is RM6,236.75. Using Banker’s Rule, find:

a) the maturity date. 2 / 12 /2021


(2 marks)
b) the face value of the note. RM 6,060

(3 marks)

QUESTION 3
Mimi wants to have enough money to pay for a bedroom set that costs RM5,590 after 4 years of
investment. She invests in a bank that pays an interest of 4.85% compounded every month.

a) How much should she invest today to have enough money for the bedroom set? RM 4,606. OS

(3 marks)
b) Find the amount of interest of the investment. Rm 983.9S
(2 marks)

QUESTION 4
Azfar borrowed RM10,500 from a bank that charged k% compounded quarterly. Find the value of
K 4.5
k if he paid RM13,132.88 in 5 years later.
=

(5 marks)
END OF QUESTION PAPER

© Hak Cipta Universiti Teknologi MARA CONFIDENTIAL

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