For items 16-30, when asked about an amount of money (interest, discount, present value, future value, annuity, regular payment) round off your final answers to two decimal place values. When asked about rate of interest, express your final answer as percent rounded off to two decimal place values. When asked about time, round off answers to the nearest year., except when asked for the number of days. For items 16-20. Suppose that Zab borrowed −−₱50,000 from a cooperative on January 8, 2020 and paid the entire sum including interest on April 3 of the same year, and that the interest rate is 1.5%. 16. Determine the exact time for the computation of exact interest. 17. Determine the approximate time for the computation of ordinary interest. 18. Find the amount of interest earned, if it is computed using the exact simple interest. 19. Find the amount of interest earned, if it is computed using the ordinary simple interest. 20. Find the amount of interest earned, if it is computed using the banker’s rule.
For items 16-30, when asked about an amount of money (interest, discount,
For items 16-20. Suppose that Zab borrowed −−₱50,000 from a cooperative on January 8, 2020 and paid the entire sum including interest on April 3 of the same year, and that the interest rate is 1.5%.
16. Determine the exact time for the computation of exact interest.
17. Determine the approximate time for the computation of ordinary interest.
18. Find the amount of interest earned, if it is computed using the exact simple interest.
19. Find the amount of interest earned, if it is computed using the ordinary simple interest.
20. Find the amount of interest earned, if it is computed using the banker’s rule.
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