Islamic Banking Is Being Introduced in Oman, Such That No

question 19

Multiple Choice

Islamic banking is being introduced in Oman, such that no interest is given on the promissory notes. Compute the present value on the date of issue of a non-interest-bearing, worth $850 000, three-month promissory note dated September 1, 2013 (plus 3 days of grace) , if money is worth 12.5% in Oman.

• A) $824 311
• B) $847 272
• C) $877 363
• D) $823 490
• E) $26 510

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Definitions:

Landline

A phone that is connected to the phone system via physical telephone wires.

Sample Size

The number of individuals or observations included in a sample for the purposes of research.

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A sampling method where the samples are collected in a process that does not give all the individuals in the population equal chances of being selected.