Topic: Short Term Financing Directions: Solve the following (please refer to the picture) 2. HYZEL Merchandising borrowed Php 300,000 from Partner's Bank at 15% simple interest for one year. Required....

Topic: Short Term Financing Directions: Solve the following (please refer to the picture)

Extracted text: 2. HYZEL Merchandising borrowed Php 300,000 from Partner's Bank at 15% simple interest for one year. Required. Compute the effective interest of the bank.