Answered: Maya borrowed 15, 000 pesos last June…

Maya borrowed 15, 000 pesos last June 10, 2020, from a lending institution which offered 12% simple interest and she promised to pay on October 10 of the same year. What is the exact time?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 11E

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Maya borrowed 15, 000 pesos last June 10, 2020, from a lending institution which offered 12% simple interest and she promised to pay on October 10 of the same year. What is the exact time?

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