On August 1, 2020, PHINEAS Company borrowed P9,000,000 from a lender, which is to be paid on January 28, 2021. The interest is 8% per annum. How much is the interest expense for 2020?
On August 1, 2020, PHINEAS Company borrowed P9,000,000 from a lender, which is to be paid on January 28, 2021. The interest is 8% per annum. How much is the interest expense for 2020?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 36P
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On August 1, 2020, PHINEAS Company borrowed P9,000,000 from a lender, which is to be paid on January 28, 2021. The interest is 8% per annum. How much is the interest expense for 2020?
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