INSTRUCTION: SHOW YOUR COMPLETE SOLUTION AND HIGHLIGHT YOUR FINAL ANSWER. 1. Nikki deposited an amount of P150,000 for 31 days that earns P845.53 on maturity date after deducting the 20% withholding tax on interest income. Find the rate of interest per annum.

INSTRUCTION: SHOW YOUR COMPLETE SOLUTION AND HIGHLIGHT YOUR FINAL ANSWER. 1. Nikki deposited an amount of P150,000 for 31 days that earns P845.53 on maturity date after deducting the 20% withholding tax on interest income. Find the rate of interest per annum.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter13: Capital, Interest, Entrepreneurship, And Corporate Finance

Section: Chapter Questions

Problem 6QFR

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INSTRUCTION: SHOW YOUR COMPLETE SOLUTION AND HIGHLIGHT YOUR FINAL ANSWER.
1. Nikki deposited an amount of P150,000 for 31 days that earns P845.53 on maturity
date after deducting the 20% withholding tax on interest income. Find the rate of
interest per annum.

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