1) If ₱22578 is borrowed for 9 months and ₱555 is paid, then the annual simple interest rate is _______%. Round your answer to 2 decimal places.
1) If ₱22578 is borrowed for 9 months and ₱555 is paid, then the annual simple interest rate is _______%. Round your answer to 2 decimal places.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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1) If ₱22578 is borrowed for 9 months and ₱555 is paid, then the annual simple interest rate is _______%.
Round your answer to 2 decimal places.
2) What is the amount due on July 8, 2022, if the present value on July 31, 2021 was ₱20052 at 5.7% simple interest?
Round your answer to 2 decimal places.
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