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12.) Find the simple interest on a loan of P65,000.00 if the loan is given at a rate of 8% andis due in 6 years and 3 months. C. P32,500.00 D. P46,800.00 A. P3,250.00 B. P31,200.00

12.) Find the simple interest on a loan of P65,000.00 if the loan is given at a rate of 8% andis due in 6 years and 3 months. C. P32,500.00 D. P46,800.00 A. P3,250.00 B. P31,200.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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12.) Find the simple interest on a loan of P65,000.00 if the loan is given at a rate of 8% andis due in 6 years and 3 months. A. P3,250.00 C. P32,500.00 B. P31,200.00 D. P46,800.00 13.) Jamaico made a loan of P20,450.00 from a bank that charges 3% simple interest. How much must he pay the bank after 2 years? A. P1,227.00 C. P32,720.00 B. P21,677.00 D. P42,127.00 14.) At what interest rate compounded semi-annually will P15,000.00 accummulate to P25,000.00 in 10 years? А. 2.05% В. 2.59% C. 4.05% D. 5.17% 15.) ABC University anticipates additional expenses of P367,800.00 for a new equipment needed for offering a new course 5 years from now. How much should be invested in an account that earns 12% compounded monthly? C. P202,455.37 D. P668,181.05 A. P62,427.83 B. P165,344.63 Activate Go to Setting
Transcribed Image Text:12.) Find the simple interest on a loan of P65,000.00 if the loan is given at a rate of 8% andis due in 6 years and 3 months. A. P3,250.00 C. P32,500.00 B. P31,200.00 D. P46,800.00 13.) Jamaico made a loan of P20,450.00 from a bank that charges 3% simple interest. How much must he pay the bank after 2 years? A. P1,227.00 C. P32,720.00 B. P21,677.00 D. P42,127.00 14.) At what interest rate compounded semi-annually will P15,000.00 accummulate to P25,000.00 in 10 years? А. 2.05% В. 2.59% C. 4.05% D. 5.17% 15.) ABC University anticipates additional expenses of P367,800.00 for a new equipment needed for offering a new course 5 years from now. How much should be invested in an account that earns 12% compounded monthly? C. P202,455.37 D. P668,181.05 A. P62,427.83 B. P165,344.63 Activate Go to Setting
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