IP1U8 8.3.4 PN1 Q1
IP1U8 8.3.4 PN1 Q1
TGM Original Questions
John deposits his savings of \(\mathrm{US}\$1000\) in a bank that pays a simple interest at \(2.4\%\) per annum. If the exchange rate is \(\mathrm{US}\$1\) to \(\mathrm{S}\$1.40\), find the amount of Singapore dollars he will have after \(3\) years.
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Answer:\(\mathrm{S}\$1500.80\)
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