Chessca applied for a loan amounting to 1,275,000 in la bank and the interest of which is 166,500 for 95 days, what is the interest rate being charge? Use exact interest method.Allen placed an investment of 1,086,000 which he earn from abroad to overseas kababayan savings bank account here in Philippines at 5.74 % interest compounded monthly for 2 ½ Compute for the compound interest.

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Answered: Chessca applied for a loan amounting to…

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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Chessca applied for a loan amounting to 1,275,000 in la bank and the interest of which is 166,500 for 95 days, what is the interest rate being charge? Use exact interest method.
Allen placed an investment of 1,086,000 which he earn from abroad to overseas kababayan savings bank account here in Philippines at 5.74 % interest compounded monthly for 2 ½ Compute for the compound interest.

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