Question: Question No: 05 This is a subjective question, hence you have to write your answer in the Text-Field given below. CI Co. allows you to

Question No: 05 This is a subjective question, hence you have

Question No: 05 This is a subjective question, hence you have to write your answer in the Text-Field given below. CI Co. allows you to write a post-dated cheque for Rs 120 dated one month in the future for which they give you Rs 100 today. What is the APR (Annualized Percentage Rate)? If you are unable to pay off the loan, the interest is compounded every month in a year. If you are unable to pay off the amount with interest for a year, how much is the amount due from your side to CI Co.? What will be the amount if the same APR is continuously compounded? [5]

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