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- 1. Multiple Choice
What is another term for interest in advance?
simple interest
simple discount
trade discount
compound interest
- 2. Multiple Choice
In the given formula, what does F stand for? Check all that apply.
face value
maturity value
final discount
- 3. Multiple Choice
in the given promissory note, what do you call 120 days?
term of discount
maturity date
date of note
term of note
- 4. Multiple Choice
In the given promissory note, who is the debtor?
Gina Bravo
Jaime dela Cruz
- 5. Multiple Choice
The amount received by the borrower after the interest in advance is deducted from the amount of loan?
proceeds
discount
profit
interest
- 6. Multiple Choice
A bank loan for PhP10,000 is discounted at 12% for 270 days. Find the bank discount?
PhP900.00
PhP9,100
PhP887.67
- 7. Multiple Choice
A bank loan of PhP20,000 is discounted at 11 1/2% on July 25, 2020. If the loan is due in 100 days, what is the maturity date?
November 2
November 3
November 4
November 5
- 8. Multiple Choice
What do you call the time between the discount date and the maturity date?
term of note
term of discount
- 9. Multiple Choice
A discount of PhP300 is charged for a 72-day loan. If the discount rate is 16%, how much must be repaid in maturity?
PhP9,000
Php9,517.77
PhP9,375
- 10. Multiple Choice
In the promissory note, what is Php9,500? Check all that apply.
maturity value
proceeds
face value
bank discount
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