If you are to pay P 3,000.00 for a debt made 2 months ago at the rate of 7% simple interest, what amount did you borrow?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
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3. If you are to pay P 3,000.00 for a debt made 2 months ago at the rate of 7% simple interest, what amount did you borrow?

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