Question
To start a pastry business for the coming yuletide season, you took a loan of Php 25,000. Your banker loans you the money at a
To start a pastry business for the coming yuletide season, you took a loan of Php 25,000. Your banker loans you the money at a 15% annual interest rate, which you agree to pay back in four equal monthly installments. How much is the interest payment for the second month?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
