If money's worth is 7% today and you are looking for a property worth P1M. How much is the discount when it was sold to you, after 8 months, for only P975,000.00. What was the rate of discount? the rate interest? Answer: D= (Answer is not provided; when you got d and r correctly, it follows that your answer is correct) d = 6.8% ;r= 7.3%

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
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If money's worth is 7% today and you are looking for a property worth P1M. How
much is the discount when it was sold to you, after 8 months, for only P975,000.00. What
was the rate of discount? the rate interest?
Answer:
D=
(Answer is not provided; when you got d and r correctly, it follows
that your answer is correct)
d = 6.8%
;r= 7.3%
Transcribed Image Text:Student Assessment Question If money's worth is 7% today and you are looking for a property worth P1M. How much is the discount when it was sold to you, after 8 months, for only P975,000.00. What was the rate of discount? the rate interest? Answer: D= (Answer is not provided; when you got d and r correctly, it follows that your answer is correct) d = 6.8% ;r= 7.3%
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