Refer to this word problem ) Determine the exact and ordinary nterest on P15,800 at 12% from January 9, 2018 to June 24, 2018. Note: 2018 is not a leap year.

Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.16E
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(Refer to this word problem
) Determine the exact and ordinary
interest on P15,800 at 12% from January 9, 2018 to June 24, 2018. Note: 2018 is
not a leap year.
Time considered for ordinary interest (express the answer in fraction
form; e.g. 100/366)
Your answer
Exact interest (express the answer rounded to two decimal places: e.g.
Php123.45 or Php153.00)
Your answer
Ordinary interest (express the answer rounded to two decimal places:
e.g. Php123.45 or Php153.00)
Transcribed Image Text:(Refer to this word problem ) Determine the exact and ordinary interest on P15,800 at 12% from January 9, 2018 to June 24, 2018. Note: 2018 is not a leap year. Time considered for ordinary interest (express the answer in fraction form; e.g. 100/366) Your answer Exact interest (express the answer rounded to two decimal places: e.g. Php123.45 or Php153.00) Your answer Ordinary interest (express the answer rounded to two decimal places: e.g. Php123.45 or Php153.00)
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