Question 9Alester holds a Php32,400 simple interestnote at 12.5% rate from Chloe which is payable inone year. If Alester decides to sell the note fivemonths after the origin date, how much will shereceive if the discount rate is 14%?9Php34,749Php33,898.50Php33,473.25Php34,323.75

Step-by-step explanation:- The final value of the note at 12.5% simple interest = 32,400 x 1.125 =…

Answered: Alester holds a Php32,400 simple…

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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Alester holds a Php32,400 simple interest note at 12.5% rate from Chloe which is payable in one year. If Alester decides to sell the note five months after the origin date, how much will she receive if the discount rate is 14%?