1. Grace bought an entertainment system from a merchant who offers P25,000 at the end of 60 days. She wishes to pay immediately and the merchant offers to compute the required amount on the assumption that money is worth 24% simple interest. A. P 24038.46 B. P 22038.46 C. P 21038.46 D. P 23038.46
1. Grace bought an entertainment system from a merchant who offers P25,000 at the end of 60 days. She wishes to pay immediately and the merchant offers to compute the required amount on the assumption that money is worth 24% simple interest. A. P 24038.46 B. P 22038.46 C. P 21038.46 D. P 23038.46
Chapter3: Income Sources
Section: Chapter Questions
Problem 4DQ
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Transcribed Image Text:1. Grace bought an entertainment system from a merchant who offers P25,000 at the
end of 60 days. She wishes to pay immediately and the merchant offers to compute the
required amount on the assumption that money is worth 24% simple interest.
A. P 24038.46
B. P 22038.46
C. P 21038.46
D. P 23038.46
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