A bank pays simple interest at the rate of 8% per year for certain deposits. If a customer deposits P10,000 and make no withdrawal for three years what is the interest earned in that period of time? A person borrow P100,000 for a period of 6 months. What simple interest rate is being charged if the amount A that must be paid after 6 months is P104,500? ROBLEM SOLVING: Solve the following problems. Show complete solutions.SCOREIII.DESCRIPTORSSolution is exceptionally clear, thorough, and solved correctly.Solution is generally clear but not all are solved correctly.Solution is not solved correctly.No solution was presented.316 - 20) A bank pays simple interest at the rate of 8% per vear for certain deposits. If a customerdeposits P10,000 and make no withdrawals for three vears, what is the interest earned in thatperiod of time?bs Isqioningod ao ba moigh or no21-25) An amount of P500,000 is invested in a 10-year trust that pays 6% annual simple interest.What is the total amount of the trust fund at the end of ten years?wondst aibnil yd slde algmobeing

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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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A bank pays simple interest at the rate of 8% per year for certain deposits. If a customer deposits P10,000 and make no withdrawal for three years what is the interest earned in that period of time? A person borrow P100,000 for a period of 6 months. What simple interest rate is being charged if the amount A that must be paid after 6 months is P104,500?

ROBLEM SOLVING: Solve the following problems. Show complete solutions.
SCORE
III.
DESCRIPTORS
Solution is exceptionally clear, thorough, and solved correctly.
Solution is generally clear but not all are solved correctly.
Solution is not solved correctly.
No solution was presented.
3
16 - 20) A bank pays simple interest at the rate of 8% per vear for certain deposits. If a customer
deposits P10,000 and make no withdrawals for three vears, what is the interest earned in that
period of time?
bs Isqioningod ao ba mo
igh or no
21-25) An amount of P500,000 is invested in a 10-year trust that pays 6% annual simple interest.
What is the total amount of the trust fund at the end of ten years?
wondst aibnil yd slde algmo
being

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