Answered: 1. A lending institution charges its…

1. A lending institution charges its client Php 1,008,000 on a loan of Php 1.6M for 5 years and 3 months. What simple interest rate is being applied?

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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Question

valuate
This time, you are now challenged to take this quiz.
. Solve for the following problems and show your solution.
1. A lending institution charges its client Php 1,008,000 on a loan of Php 1.6M for 5
years and 3 months. What simple interest rate is being applied?
R :
1, 008,000O
(1, G00, a00)(24)
1.008,000
8, 400 ,000
o. 12
12 %u

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