If I invested P300,000 last March 20, 2020 in a financial instrument that pays 8% per annum rate and was redeemed last January 9, 2021, how much will be the proceeds of the redemption using the following:Exact interest at approximate timeExact interest at actual timeOrdinary interest at approximate timeOrdinary interest at actual time

Ordinary interest rate is the method of calculating the interest charged on the loan, based on a 360…

Answered: If I invested P300,000 last March 20,…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 10RE: If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32...

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If I invested P300,000 last March 20, 2020 in a financial instrument that pays 8% per annum rate and was redeemed last January 9, 2021, how much will be the proceeds of the redemption using the following:
1. Exact interest at approximate time
2. Exact interest at actual time
3. Ordinary interest at approximate time
4. Ordinary interest at actual time

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what do you mean by proceeds in this question? is it only the interest calculated or the matured value also?

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