2. An interest computed on the maturity value of the loan and is deducted from that amount at loan date to determine the net amount to be received by the borrower. Proceeds a. b. Bank discount c. Principal d. Interest rate 3. Used to find the number of days as numerator to determine the time by assuming that each months has 30 days. Actual time a. b. Approximate time Time concept C. d. Loan time Troy borrowed Php271,050 at simple interest of 12.21% for 2 years. Compute for the interest and maturity value of the loan. 4. Interest a. 33,590.50 b. 66,160.14 c. 33,095.05 d. 66,190.41 5. Maturity value a. 337,240.41 b. 304,640.50 C. 337,210.14 d. 304,145.05
2. An interest computed on the maturity value of the loan and is deducted from that amount at loan date to determine the net amount to be received by the borrower. Proceeds a. b. Bank discount c. Principal d. Interest rate 3. Used to find the number of days as numerator to determine the time by assuming that each months has 30 days. Actual time a. b. Approximate time Time concept C. d. Loan time Troy borrowed Php271,050 at simple interest of 12.21% for 2 years. Compute for the interest and maturity value of the loan. 4. Interest a. 33,590.50 b. 66,160.14 c. 33,095.05 d. 66,190.41 5. Maturity value a. 337,240.41 b. 304,640.50 C. 337,210.14 d. 304,145.05
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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help me answer no. 3 and 4
Transcribed Image Text:2. An interest computed on the maturity value of
the loan and is deducted from that amount at
loan date to determine the net amount to be
received by the borrower.
a. Proceeds
b. Bank discount
c. Principal
d. Interest rate
3. Used to find the number of days as numerator
to determine the time by assuming that each
months has 30 days.
Actual time
a.
b. Approximate time
C. Time concept
d. Loan time
Troy borrowed Php271,050 at simple interest of
12.21% for 2 years. Compute for the interest and
maturity value of the loan.
4. Interest
a. 33,590.50
b. 66,160.14
c. 33,095.05
d. 66,190.41
5. Maturity value
a. 337,240.41
b. 304,640.50
C. 337,210.14
d. 304,145.05
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