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An employee has a promissory note, due N years hence, whose maturity value is P250,000. If the rate of interest is 16% compounded bi-monthly, The employee had ask for P175,000 on the promissory note. Find: N a. None of these b. 2.22 years c. 2.26 years d. 2.62 years

An employee has a promissory note, due N years hence, whose maturity value is P250,000. If the rate of interest is 16% compounded bi-monthly, The employee had ask for P175,000 on the promissory note. Find: N a. None of these b. 2.22 years c. 2.26 years d. 2.62 years

Essentials Of Investments
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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An employee has a promissory note, due N years hence, whose maturity value is P250,000. If the rate of interest is 16% compounded bi-monthly, The employee had ask for P175,000 on the promissory note. Find: N

a. None of these

b. 2.22 years

c. 2.26 years 

d. 2.62 years

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