Maths
2006-11-11 6:18 am
Monica deposits $150,000 in Hang Fung Bank at an interest rate of 6.5% p.a. At the same time, the bank lends $150,000 to Charles at an interest rate of 8.75%p.a. Suppose the bank lends to Charles the money that it receives from Monica's deposit (i.e. $150,000), and the operation cost for the bank is $1,500 per year. Find the profit of the bank in such a transaction after a year. The answer is $1875. Please give me an expression.
回答 (2)
2006-11-11 6:31 am
✔ 最佳答案
The expression is:The money that can be obtained from Charles at end of year - The money to be returned to Monica at the end of year - operation cost
$150000 x 8.75% - $150000 x 6.5% - $1500
= $13125 - $9750 - $1500
= $ 1875
2006-11-11 6:35 am
150000 * (0.0875) - 150000 * (0.065) - 1500 = 1875
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