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Activity No. 1 Omar opened a time deposit account in IBQ. He deposited QR 40,000. The compound annual interest rate is 1.5% credited on account one time every year. Calculate the balance and interest value for 2 years.
Activity No. 2 Rajaa opened a time deposit account in IBQ. He deposited QR 82,000. The compound annual interest rate is 4% credited on account one time every year. Calculate the balance and interest value for 6 years.
Case Study 1: Yasser has two options for depositing QR50,000 for 5 years with two banks. The first choice is a one time deposit account in IBQ by compound annual interest rate is 7% credited on account one times every year. The second choice is a time deposit account in QIB by compound annual interest rate is 2% credited on account 4 times every year. Which option is the best for Yasser?