A loan of Php 5,000 at an interest rate of 12% per annum for the period of February 1 to May 20. Determine the ordinary simple interest due on May 20.
A loan of Php 5,000 at an interest rate of 12% per annum for the period of February 1 to May 20. Determine the ordinary simple interest due on May 20.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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A loan of Php 5,000 at an interest rate of 12% per annum for the period of February 1 to May 20. Determine the ordinary simple interest due on May 20.
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