Discount Interest Solve the following. Show solutions. Round off answers up to 2 (two) decimal places. Find the discount interest on Php35,500 for 130 days at a discount interest rate of 13.78%. ASAP ONLY ROUND OFF ON FINAL ANSWER. DO NOT ROUND OFF ON SOLVING

Discount Interest Solve the following. Show solutions. Round off answers up to 2 (two) decimal places. Find the discount interest on Php35,500 for 130 days at a discount interest rate of 13.78%. ASAP ONLY ROUND OFF ON FINAL ANSWER. DO NOT ROUND OFF ON SOLVING

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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Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

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Discount Interest
Solve the following. Show solutions. Round off answers up to 2 (two) decimal places.

Find the discount interest on Php35,500 for 130 days at a discount interest rate of 13.78%.

ASAP
ONLY ROUND OFF ON FINAL ANSWER. DO NOT ROUND OFF ON SOLVING

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