-The amount of P20,000.00 was borrowed from a lending investor at an interest rate of 5% per month. How the interest is he going to pay at the end of 10months? -Determine the exact simple interest of P5,000 for the period of Jan 15 to Nov 28, if the rate of interest is 22%?

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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-The amount of P20,000.00 was borrowed from a lending investor at an interest rate of 5% per month. How the interest is he going to pay at the end of
10months?
-Determine the exact simple interest of P5,000 for the period of Jan 15 to Nov 28, if the rate of interest is 22%?
Transcribed Image Text:-The amount of P20,000.00 was borrowed from a lending investor at an interest rate of 5% per month. How the interest is he going to pay at the end of 10months? -Determine the exact simple interest of P5,000 for the period of Jan 15 to Nov 28, if the rate of interest is 22%?
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ISBN:
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