6. A sari-sari store vendor buys some goods from a dealer who asks P15,950 at the end of 180 days. The vendor prefers to pay in cash and the dealer offers to compute the cash price at 13% simple interest. Find the cash price of the goods. 7. Edward Cariaga loans P35,300 at 6½% simple interest, how long it will take him to get P3,800 interest? Elmer Martin paid P26,800 on a loan made 4 months before at 9½% simple interest. Find the interest generated. 8. 9. If a principal of P13,300 earns interest of P1,500 in 3 years and 6 months, what interest rate is in effect? 10. Ruel Dayrit deposited P80,250 in a bank paying 5% simple interest for 4 years. How would he have in his account at the end of four years assuming that no withdrawals were made?

6. A sari-sari store vendor buys some goods from a dealer who asks P15,950 at the end of 180 days. The vendor prefers to pay in cash and the dealer offers to compute the cash price at 13% simple interest. Find the cash price of the goods. 7. Edward Cariaga loans P35,300 at 6½% simple interest, how long it will take him to get P3,800 interest? Elmer Martin paid P26,800 on a loan made 4 months before at 9½% simple interest. Find the interest generated. 8. 9. If a principal of P13,300 earns interest of P1,500 in 3 years and 6 months, what interest rate is in effect? 10. Ruel Dayrit deposited P80,250 in a bank paying 5% simple interest for 4 years. How would he have in his account at the end of four years assuming that no withdrawals were made?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 11EB: Whole Leaves wants to upgrade their equipment, and on January 24 the company takes out a loan from...

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