Apply the concept of simple interest. 6. ABC bank charges 10 ¼% for discounting loans. If Aldrin agrees to repayP 55 000after 7 months, how much does he receive now?Answer:

Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Answered: 6. ABC bank charges 10 %% for…

6. ABC bank charges 10 %% for discounting loans. If Aldrin agrees to repay P 55 000 after 7 months, how much does he receive now? Answer:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Apply the concept of simple interest.

6. ABC bank charges 10 ¼% for discounting loans. If Aldrin agrees to repayP 55 000
after 7 months, how much does he receive now?
Answer:

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