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OT Practice test chapter 17 question 2

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › OT Practice test chapter 17 question 2

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by MikeLittle.
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  • March 2, 2016 at 9:37 am #302993
    Ibrahim
    Member
    • Topics: 41
    • Replies: 79
    • ☆☆

    Interest earned on temporary investment: calculation of interest earned, should it not begin from the date the loan was drawn(1 May – 1 November 2014) not from the date the construction work commenced (30 June-1 November 2014). BPP uses this approach as calculated below

    $2.4m @ 8% x 10/12 160,000
    $1.0m @ 6% x 6/12 ( 30,000)

    Answer $130,000

    with respect! what is your take on this sir

    March 2, 2016 at 5:52 pm #303074
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23334
    • ☆☆☆☆☆

    Fine! But it’s not the approach the examiner took when the question was asked a couple of years ago 🙂

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