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National Co. borrowed P100,000 for six months from the bank. The rate is prime plus 1 percent. The prime rate was 8.5 percent at
National Co. borrowed P100,000 for six months from the bank. The rate is prime plus 1 percent. The prime rate was 8.5 percent at the beginning of the loan and changed to 9 percent after two months. This was the only change. How much interest must National Co. corporation pay? *
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Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-0538473484, 538473487, 978-1111879044
