2. Joseph borrowed Php 5,000 on November 2, 2015 from Arthemus, which is to be repaidon May 21, 2016 at 6.2% simple interest per year. Find the amount to be repaid. Howmuch will the interest be at the repayment date if the following time factors are used?a. Bankers Rule b. Exact Simple Interest c. Approximate 360 d. Approximate 3653. How much should Mark pay to Michele if he borrowed Php 10,000 on June 25, 2015 and ifthe principal and interest are to be paid on Novermber 18, 2015 at 15% simple interest peryear? Use the following time factors. a. Bankers Rule; b. Exact Simple Interestc. approximate 360 d. Approximate 365s4. At what simple interest rate will a sum of money double itself in 5 years?

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2. Joseph borrowed Php 5,000 on November 2, 2015 from Arthemus, which is to be repaid on May 21, 2016 at 6.2% simple interest per year. Find the amount to be repaid. How much will the interest be at the repayment date if the following time factors are used? a. Bankers Rule b. Exact Simple Interest c. Approximate 360 d. Approximate 365

2. Joseph borrowed Php 5,000 on November 2, 2015 from Arthemus, which is to be repaid on May 21, 2016 at 6.2% simple interest per year. Find the amount to be repaid. How much will the interest be at the repayment date if the following time factors are used? a. Bankers Rule b. Exact Simple Interest c. Approximate 360 d. Approximate 365

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 7EB: McMasters Inc. specializes in BBQ accessories. In order for the company to expand its business, they...

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