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Mrs. Xyz borrowed P1,500 from a credit Union of which she is a member, promising to pay simple interest at 12% for the period
Mrs. Xyz borrowed P1,500 from a credit Union of which she is a member, promising to pay simple interest at 12% for the period during which the loan was outstanding. The loan was granted on December 26, 1980 and was paid on April 25, 1981. 1. For how many days did Mrs. Xyz pay interest? 2. How much interest did she pay? 3. How much was the total amount paid by her?
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To calculate the interest and total amount paid by Mrs Xyz we can use the simple interest formula Ti...
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Accounting Information Systems
Authors: Ulric J. Gelinas, Richard B. Dull
10th edition
9781305176218, 113393594X, 1305176219, 978-1133935940
