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1. Using the Banker's Rule, find the interest and the amount due if P6500 was borrowed on October 16, 2021 to be repaid on April 5, 2022 at 18% simple interest.

1. Using the Banker's Rule, find the interest and the amount due if P6500 was borrowed on October 16, 2021 to be repaid on April 5, 2022 at 18% simple interest.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Solve the following and show your solution. 1. Using the Banker's Rule, find the interest and the amount due if P6500 was borrowed on October 16, 2021 to be repaid on April 5, 2022 at 18% simple interest. 2. Find the compound interest and the compound amount due at the end of 20 years and 7 months if P20,000 is invested at 9% compounded monthly.
Transcribed Image Text:Solve the following and show your solution. 1. Using the Banker's Rule, find the interest and the amount due if P6500 was borrowed on October 16, 2021 to be repaid on April 5, 2022 at 18% simple interest. 2. Find the compound interest and the compound amount due at the end of 20 years and 7 months if P20,000 is invested at 9% compounded monthly.
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