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National Co. borrowed P100,000 for six months from the percent. The prime rate was 8.5 percent at the beginning after two months. This was the only change. How much pay? *

National Co. borrowed P100,000 for six months from the percent. The prime rate was 8.5 percent at the beginning after two months. This was the only change. How much pay? *

FINANCIAL ACCOUNTING
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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National Co. borrowed P100,000 for six months from the bank. The rate is prime plus 1 percent. The prime rate was 8.5 percent at the beginning of the loan and changed to 9 percent after two months. This was the only change. How much interest must National Co. corporation рay? * Format: 1,111
Transcribed Image Text:National Co. borrowed P100,000 for six months from the bank. The rate is prime plus 1 percent. The prime rate was 8.5 percent at the beginning of the loan and changed to 9 percent after two months. This was the only change. How much interest must National Co. corporation рay? * Format: 1,111
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