A bank pays simple interest at the rate of 8% per year for certain deposits. If a customer deposits P10,000 and make no withdrawal for three years what is the interest earned in that period of time? A person borrow P100,000 for a period of 6 months. What simple interest rate is being charged if the amount A that must be paid after 6 months is P104,500?
A bank pays simple interest at the rate of 8% per year for certain deposits. If a customer deposits P10,000 and make no withdrawal for three years what is the interest earned in that period of time? A person borrow P100,000 for a period of 6 months. What simple interest rate is being charged if the amount A that must be paid after 6 months is P104,500?
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter8: Specialized Audit Tools: Attributes Sampling, Monetary Unit Sampling, And Data Analytics Tools
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A bank pays simple interest at the rate of 8% per year for certain deposits. If a customer deposits P10,000 and make no withdrawal for three years what is the interest earned in that period of time?
A person borrow P100,000 for a period of 6 months. What simple interest rate is being charged if the amount A that must be paid after 6 months is P104,500?
Transcribed Image Text:ROBLEM SOLVING: Solve the following problems. Show complete solutions.
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16 - 20) A bank pays simple interest at the rate of 8% per vear for certain deposits. If a customer
deposits P10,000 and make no withdrawals for three vears, what is the interest earned in that
period of time?
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21-25) An amount of P500,000 is invested in a 10-year trust that pays 6% annual simple interest.
What is the total amount of the trust fund at the end of ten years?
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being
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