A man borrows money from a bank which uses a simple discount rate of 14%. He signs
Fantastic news! We've Found the answer you've been seeking!
Question:
- A man borrows money from a bank which uses a simple discount rate of 14%. He signs a promissory note promising to pay P500.00 per month at the end of 4th, 6th, and 7th month respectively. Determine the amount of money that he received from the bank.
- P500,000 was deposited at an interest of 6% compounded quarterly. Compute the compound interest after 4 years and 9 months
- P200,000 was deposited for a period of 4 years and 6 months and bears on interest of P85649.25. What is the rate of interest if it is compounded quarterly?
Posted Date: