Which is the correct answer? In our subject, in capital market. Assuming ₱ 1,000,000 was placed in a 90-day time deposit earnings 5% interest, and assuming we are using ordinary interest, which means we will use 360 days for a year. Compute the ordinary interest and exact interest.
• ₱ 12,050.00 / ₱ 12,336.77
• ₱ 12,500.00 / ₱ 12,328.77
• ₱ 12,550.00 / ₱ 12,383.77,