Answered: Citibank pays 9% ordinary simple…

Citibank pays 9% ordinary simple interest on a 30-day time deposit. If Gino deposits Php 1 500.00, how much will he have using: a. Exact interest

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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Citibank pays 9% ordinary simple interest on a 30-day time deposit. If Gino deposits Php 1 500.00, how much will he have using:
a. Exact interest

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1. Citibank pays 9% ordinary simple interest on a 30-day time deposit. How much money will the depositor have at the end of the 30-day period if he or she deposits P1,500.00?