Relevant Competitive Tests:
Mr. Jun Ramos was granted a loan of P20,000 by his employer Excel First Review and Training Center, Inc. with an interest of 6% for 180 days on the principal collected in advance. The corporation would accept a promissory note for P20,000 non-interest for 180 days. If discounted at once, find the proceeds of the note?
A. P18,000Correct Answer
B. P18,900
C. P19,000
D. P19,100
Correct Option: A. P18,000
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