G. A Man borrowed P5,000 from a bank and agreed to pay the loan at the end of 9 months. The bank discounted the loan gave him P4,000 in cash. CO2 16. What was the rate of discount? a. 2% CO2 17. What was the rate of interest? a. 25% CO2 18. What was the rate of interest for one year? Б. 12% C. 13% d. none of the above Б. 22% c. 23% d. none of the above a. 3% b. 34% c. 33% d. none of the above

G. A Man borrowed P5,000 from a bank and agreed to pay the loan at the end of 9 months. The bank discounted the loan gave him P4,000 in cash. CO2 16. What was the rate of discount? a. 2% CO2 17. What was the rate of interest? a. 25% CO2 18. What was the rate of interest for one year? Б. 12% C. 13% d. none of the above Б. 22% c. 23% d. none of the above a. 3% b. 34% c. 33% d. none of the above

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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