What amount should be paid on the maturity date to settle a one-hundred-twenty day loan dated March 19, 2013, if the present value is ₱15,600 at 13 2/7% simple interest? A. ₱690.86 B. ₱16,290.86 C. ₱16,281.39 D. ₱681.39

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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What amount should be paid on the maturity date to settle a one-hundred-twenty day loan dated March 19, 2013, if the present value is ₱15,600 at 13 2/7% simple interest?


A. ₱690.86
B. ₱16,290.86
C. ₱16,281.39
D. ₱681.39

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