2. An interest computed on the maturity value of the loan and is deducted from that amount at loan date to determine the net amount to be received by the borrower. Proceeds a. b. Bank discount c. Principal d. Interest rate 3. Used to find the number of days as numerator to determine the time by assuming that each months has 30 days. Actual time a. b. Approximate time c. Time concept d. Loan time Troy borrowed Php271,050 at simple interest of 12.21% for 2 years. Compute for the interest and maturity value of the loan. 4. Interest a. 33,590.50 b. 66,160.14 C. 33,095.05 d. 66,190.41 5. Maturity value a. 337,240.41 b. 304,640.50 C. 337,210.14 d. 304,145.05

2. An interest computed on the maturity value of the loan and is deducted from that amount at loan date to determine the net amount to be received by the borrower. Proceeds a. b. Bank discount c. Principal d. Interest rate 3. Used to find the number of days as numerator to determine the time by assuming that each months has 30 days. Actual time a. b. Approximate time c. Time concept d. Loan time Troy borrowed Php271,050 at simple interest of 12.21% for 2 years. Compute for the interest and maturity value of the loan. 4. Interest a. 33,590.50 b. 66,160.14 C. 33,095.05 d. 66,190.41 5. Maturity value a. 337,240.41 b. 304,640.50 C. 337,210.14 d. 304,145.05

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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