Answered: If you borrow money from your friend…

If you borrow money from your friend with simple interest of 12%, find the present worth of P20, 000, which is due at the end of nine months.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 6FPE

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Question

If you borrow money from your friend
with simple interest of 12%, find the
present worth of P20, 00O, which is due
at the end of nine months.

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