Holy Ground received from a customer a one-year, P375,000 note bearing annual interest of 8%. After holding the note for six months, Holy Ground discounted the note at SBT Bank at an effective...

Holy Ground received from a customer a one-year, P375,000 note bearing<br>annual interest of 8%. After holding the note for six months, Holy Ground<br>discounted the note at SBT Bank at an effective interest rate of 10%.<br>How much did Holy Ground receive from the bank?<br>P371,429<br>P384,750<br>P392,858<br>P405,000<br>What amount of loss from discounting should Holy Ground recognize?<br>None<br>P5,250<br>P9,750<br>P20,250<br>

Extracted text: Holy Ground received from a customer a one-year, P375,000 note bearing annual interest of 8%. After holding the note for six months, Holy Ground discounted the note at SBT Bank at an effective interest rate of 10%. How much did Holy Ground receive from the bank? P371,429 P384,750 P392,858 P405,000 What amount of loss from discounting should Holy Ground recognize? None P5,250 P9,750 P20,250

Jun 09, 2022

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Holy Ground received from a customer a one-year, P375,000 note bearing annual interest of 8%. After holding the note for six months, Holy Ground discounted the note at SBT Bank at an effective...

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