Mina borrowed Php 10,000 from a financing institution which agreed to charge an annual simple interest r. Suppose after 36 months, Mina paid a total of Php11,500. What is the value of r in percent? Choices: - 10% - 5% - 4% - 2%
Mina borrowed Php 10,000 from a financing institution which agreed to charge an annual simple interest r. Suppose after 36 months, Mina paid a total of Php11,500. What is the value of r in percent? Choices: - 10% - 5% - 4% - 2%
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...
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Mina borrowed Php 10,000 from a financing institution which agreed to charge an annual simple interest r. Suppose after 36 months, Mina paid a total of Php11,500. What is the value of r in percent?
Choices:
- 10%
- 5%
- 4%
- 2%
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