A widower was granted a loan of P20,000 by her employer with an interest of 6% for 3 months. The company would accept a promissory note for P20000 non-interest for 180 days. If discounted at once, find the proceeds of the note.
A widower was granted a loan of P20,000 by her employer with an interest of 6% for 3 months. The company would accept a promissory note for P20000 non-interest for 180 days. If discounted at once, find the proceeds of the note.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A widower was granted a loan of P20,000 by her employer with an interest of 6% for 3 months. The company would accept a promissory note for P20000 non-interest for 180 days. If discounted at once, find the proceeds of the note.
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