Question 1Anthony invested Php55,000 in abank that pays 3.75% simple interest. Howmuch will be his money at the end of 3 yearsand 8 months, assuming he does notwithdraw nor deposit during the term ofinvestment?Php73,937.50Php62,562.50Php59,766.67Php70,633.33

calculation of amount after 3 years and 8 months under simple interest are as follows

Answered: Anthony invested Php55,000 in a bank…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 1EB: Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the...

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Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
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Anthony invested Php55,000 in a bank that pays 3.75% simple interest. How much will be his money at the end of 3 years and 8 months, assuming he does not withdraw nor deposit during the term of investment?