Global Wawasan Bank borrowed $80,000,000 at 5% interest for 180 days from a Dubai investment house....

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Global Wawasan Bank borrowed $80,000,000 at 5% interest for 180 days from a Dubai investment house. At the same time, the bank made the following loans, each for the exact same 180-day period: a. A 7% simple interest note for $38,000,000 to firm A, b. An 8.2% simple discount note for $27,500,000 to contractor B, and c. An 8% simple discount note for $14,500,000 to company C. i. Find the difference between interest received and interest paid by the bank on these funds. ii. The bank did not loan out all $80,000,000. Find the amount that Global Wawasan Bank actually loaned out. iii. Find the effective rate of interest to the nearest hundredth of a percent. Global Wawasan Bank borrowed $80,000,000 at 5% interest for 180 days from a Dubai investment house. At the same time, the bank made the following loans, each for the exact same 180-day period: a. A 7% simple interest note for $38,000,000 to firm A, b. An 8.2% simple discount note for $27,500,000 to contractor B, and c. An 8% simple discount note for $14,500,000 to company C. i. Find the difference between interest received and interest paid by the bank on these funds. ii. The bank did not loan out all $80,000,000. Find the amount that Global Wawasan Bank actually loaned out. iii. Find the effective rate of interest to the nearest hundredth of a percent.

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i To calculate the difference between interest received and interest paid by the bank we need to fin... View the full answer