Assume that after getting your Bachelor's degree in Higher College of Technology you wanted to pursue...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Assume that after getting your Bachelor's degree in Higher College of Technology you wanted to pursue your Master's degree which University of Stanford is offering the program for 3 years. And you informed your parents that you want to go that University to take Masters in Business Administration. The cost of studying a master degree in the institution will cost nearly OMR 15,000 per annum and the degree will be for 3 years of study. Your parents started depositing at National Bank of Oman, OMR 4,000 per year five years ago. NBO pays and annual interest at 12% on such deposits per annum. Required: A) How much is the total interest gained by your parents on the said deposit in NBO? B) How much more will your parents have to deposit in each year for the next five years to have the necessary funds for your education? C) Suppose your parents have OMR 40,000, which of the following banks should they invest their money? Help them decide by calculating the interest provided in the table. Banks NBO Interest 10% per annum compounded annually Bank Muscat 8% per annum compounded monthly Dhofar Bank 7% per annum compounded semi- annually Assume that after getting your Bachelor's degree in Higher College of Technology you wanted to pursue your Master's degree which University of Stanford is offering the program for 3 years. And you informed your parents that you want to go that University to take Masters in Business Administration. The cost of studying a master degree in the institution will cost nearly OMR 15,000 per annum and the degree will be for 3 years of study. Your parents started depositing at National Bank of Oman, OMR 4,000 per year five years ago. NBO pays and annual interest at 12% on such deposits per annum. Required: A) How much is the total interest gained by your parents on the said deposit in NBO? B) How much more will your parents have to deposit in each year for the next five years to have the necessary funds for your education? C) Suppose your parents have OMR 40,000, which of the following banks should they invest their money? Help them decide by calculating the interest provided in the table. Banks NBO Interest 10% per annum compounded annually Bank Muscat 8% per annum compounded monthly Dhofar Bank 7% per annum compounded semi- annually
Expert Answer:
Answer rating: 100% (QA)
Solution A Total Interest Gained by Parents We cant directly calculate the total interest for multiple years with a simple interest rate formula 12 We ... View the full answer
Related Book For
Intermediate Financial Management
ISBN: 978-1285850030
12th edition
Authors: Eugene F. Brigham, Phillip R. Daves
Posted Date:
Students also viewed these finance questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
A guitar string has an overall length of 1.25 m and a total mass of 40 g (0.04 kg) before it is strung on the guitar. Once on the guitar, however, there is a distance of 64 cm between its fixed end...
-
1. Which of the following would an auditor most likely use in making preliminary judgments about materiality? a. The anticipated sample size of the planned substantive tests. b. The entity's...
-
Media applications that play audio or video files are part of a class of workloads called streaming workloads; i.e., they bring in large amounts of data but do not reuse much of it. Consider a video...
-
Fill in the Blank. If \(S(\overline{\omega)}\) has significant values over a wide range of frequencies, the process is called \(\mathrm{a}(\mathrm{n})\) _____________ process.
-
Hector Corporation is a manufacturing company with annual sales of $25 million. Its budget committee has created the following policy that the company uses each year in developing its master budget...
-
Write a Java conditional statement that implements the following table, where grade is an integer and school is a String. Both variables have been declared and grade has been initialized to a value...
-
Palmer, a U.S. company, acquired 90% of Scalas voting stock for $32,600 in cash on January 1, 2019, when Scalas book value was $5,000. The fair value of the noncontrolling interest at the date of...
-
Show how you could carry out the following syntheses: (a) (b) (c) (d) from from from from Br
-
How helpful is it that jurisdiction of the International Court of Justice is voluntary? Does this completely undermine the credibility or usefulness of the court? What are the advantages and...
-
Jalila owns and manages a small business (E Connections) that sells electronic connectors and network components. The following industries purchase products from E Connections: mechanical and plant...
-
Jose Medellin participated in the rape and murder of two teenage girls in Houston, Texas. He was arrested and read his Miranda rights, and he confessed. At the time, he was not informed that he could...
-
White Mountain Corporation (WMC) sells computer components. It is a publicly traded corporation. William serves as WMCs Chief Executive Officer (CEO). William owns 15 percent of WMCs outstanding...
-
OBB Personenverkehr (OBB), the Austrian state-owned railway, carries about 235 million passengers a year on routes within wholly owned by OBB Holding Group, which in turn, is wholly owned by the...
-
Describe the shift in American history brought about by the Progressive Era. What caused it? How did it develop? Who was driving it and why? Finally, did Progressives accomplish their goals? Be sure...
-
Reduction in sales All of the above 29. Belt of an electric motor is broken, it needs a. Corrective maintenance b. Scheduled maintenance c. Preventive maintenance d. Timely maintenance. 30. The...
-
Start with the partial model in the file Ch15 P13 Build a Model.xls on the textbook's Web site. J. Clark Inc. (JCI), a manufacturer and distributor of sports equipment, has grown until it has become...
-
What is a bond rating, and how do ratings affect bonds' prices and yields? Who rates bonds, and what are some of the factors the rating agencies consider? Is it possible for a given company to have...
-
What are some of the pros and cons of using stock options to compensate managers?
-
What is the value of the finite population correction factor in the formula for \(\sigma_{\bar{X}}^{2}\) when (a) \(n=8\) and \(N=640\) ? (b) \(n=100\) and \(N=8,000\) ? (c) \(n=250\) and...
-
The following is the time taken (in hours) for the delivery of 8 parcels within a city: 28,32,20,26, 42,40,28, and 30 . Use these figures to judge the reasonableness of delivery services when they...
-
Prove that \(\mu_{\bar{X}}=\mu\) for random samples from discrete (finite or countably infinite) populations.
Study smarter with the SolutionInn App