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  • M. Valerio Discussion 5.1

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    Mark Kristian Valerio
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    The document calculates the interest earned on PHP 65,250 at a 9.5% interest rate from March 12, 2020 to September 15, 2020 using both actual and approximate time periods. It provides the interest calculated using: A) ordinary interest with actual time, B) ordinary interest with approximate time, C) exact interest with actual time, and D) exact interest with approximate time. The interest amounts ranged from PHP 3,107.87 to PHP 3,219.91 depending on the method used.

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    m. Valerio Discussion 5.1

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    The document calculates the interest earned on PHP 65,250 at a 9.5% interest rate from March 12, 2020 to September 15, 2020 using both actual and approximate time periods. It provides the interest calculated using: A) ordinary interest with actual time, B) ordinary interest with approximate time, C) exact interest with actual time, and D) exact interest with approximate time. The interest amounts ranged from PHP 3,107.87 to PHP 3,219.91 depending on the method used.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    6 views1 page

    M. Valerio Discussion 5.1

    Uploaded by

    Mark Kristian Valerio
    The document calculates the interest earned on PHP 65,250 at a 9.5% interest rate from March 12, 2020 to September 15, 2020 using both actual and approximate time periods. It provides the interest calculated using: A) ordinary interest with actual time, B) ordinary interest with approximate time, C) exact interest with actual time, and D) exact interest with approximate time. The interest amounts ranged from PHP 3,107.87 to PHP 3,219.91 depending on the method used.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    GEC 004 “MMW”

    1. Find the interest on PHP 65,250 at 9.5% interest from Mar. 12, 2020 to Sept. 15, 2020, using the
    following:

    Month Actual time Approximate time

    March 12, 2020 31 – 12 = 19 30 -12 = 18

    April 30 30

    May 31 30

    June 30 30

    July 31 30

    August 31 30

    September 15,202 15 15

    TOTAL =187 =183

    Given:
    A. Ordinary interest using actual time; 
    Io = Prt Principal = Php65,250
    Io = Pr(D/360) rate = 9.5% or 0.095
    Actual time = 187
    Io = (65,250) (0.095) (187/360)
    Approximate time = 183
    Io = Php3219.91 Ordinary Interest = 360 days
    Exact Interest = 365 days

    B. Ordinary interest using approximate time;


    Io = Prt
    Io = Pr(D/360)
    Io = (65,250) (0.095) (183/360)
    Io = Php3151.03

    C. Exact interest using actual time;

    Ie = Prt
    Ie = Pr(D/365)
    Ie = (65,250) (0.095) (187/365)
    Ie = Php3175.80

    D. Exact interest using approximate time.

    Ie = Prt
    Ie = Pr(D/365)
    Ie = (65,250) (0.095) (183/365)
    Ie = Php3107.87

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