Determine the ordinary and exact simple interests on P 5,000 for the period from Jan. 15 (excluding Jan 15) to June 20, 2011 (including June 20), if the rate of simple interest is 14%.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...
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Determine the ordinary and exact simple interests on P 5,000 for the period from Jan. 15 (excluding Jan 15) to June 20, 2011 (including June 20), if the rate of simple interest is 14%.

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