4. A time deposit of Php110,000.00 for 31 days earns Php890.39 on maturity date after deducting the 20% withholding tax on interest income. Find the interest rate per annum. a)12.5% b) 12.25% c) 11.75% d) 11.95% 5. Mr. Reyes borrowed from the bank. He received Php1,842.00 and promise to repay Php2,000 at the end of ten months. Determine the simple interest rate. a) 19.45% b) 15.70% c) 16.10% d) 10.29%
4. A time deposit of Php110,000.00 for 31 days earns Php890.39 on maturity date after deducting the 20% withholding tax on interest income. Find the interest rate per annum. a)12.5% b) 12.25% c) 11.75% d) 11.95% 5. Mr. Reyes borrowed from the bank. He received Php1,842.00 and promise to repay Php2,000 at the end of ten months. Determine the simple interest rate. a) 19.45% b) 15.70% c) 16.10% d) 10.29%
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
Related questions
Question
Simple Interest
![4. A time deposit of Php110,000.00 for 31 days earns Php890.39 on maturity date after deducting the
20% withholding tax on interest income. Find the interest rate per annum.
a)12.5%
b) 12.25%
c) 11.75%
d) 11.95%
5. Mr. Reyes borrowed from the bank. He received Php1,842.00 and promise to repay Php2,000 at
the end of ten months. Determine the simple interest rate.
a) 19.45%
b) 15.70%
c) 16.10%
d) 10.29%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8718073f-823f-4e79-b7e4-a4aa824e8667%2F69621257-cdd1-4c19-8f2a-153cd1c00358%2Fvventm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. A time deposit of Php110,000.00 for 31 days earns Php890.39 on maturity date after deducting the
20% withholding tax on interest income. Find the interest rate per annum.
a)12.5%
b) 12.25%
c) 11.75%
d) 11.95%
5. Mr. Reyes borrowed from the bank. He received Php1,842.00 and promise to repay Php2,000 at
the end of ten months. Determine the simple interest rate.
a) 19.45%
b) 15.70%
c) 16.10%
d) 10.29%
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Foundations Of Finance](https://www.bartleby.com/isbn_cover_images/9780134897264/9780134897264_smallCoverImage.gif)
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
![Fundamentals of Financial Management (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781337395250/9781337395250_smallCoverImage.gif)
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
![Corporate Finance (The Mcgraw-hill/Irwin Series i…](https://www.bartleby.com/isbn_cover_images/9780077861759/9780077861759_smallCoverImage.gif)
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education