Bezawit Beza
Mar 24
The national bank of Ethiopia changes the borroing interest rate expense from 12%-13% and interest saving rate of 5%-6% for 1 year .XYZ company borrowed birr 100,000 for 1 year .ato dawit has birr ?
125,000 account balance in his saving account
required
Calculate the interest expense and saving book ?
required
Calculate the interest expense and saving book ?
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Mar 24
If XYZ company borrowed birr 100,000 for 1 year at an interest rate of 12%, the total interest expense for the year would be:
100,000 * 0.12 = 12,000 birr
So, the total amount that XYZ company would have to repay after 1 year would be:
100,000 + 12,000 = 112,000 birr
If Ato Dawit has birr 112,000, he would be able to repay the loan amount on behalf of XYZ company.
100,000 * 0.12 = 12,000 birr
So, the total amount that XYZ company would have to repay after 1 year would be:
100,000 + 12,000 = 112,000 birr
If Ato Dawit has birr 112,000, he would be able to repay the loan amount on behalf of XYZ company.
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