On Jan. 1, 2021, OZARK Corporation entered into a P5,000,000 IRG 1-10, 9% contract with its bank. Interest rates at the beginnings of January, February, September and October of 2021 were 8.50%, 9.75%, 9.80% and 9.90%. How much is the cash to be received by OZARK solely from the IRG contract?
On Jan. 1, 2021, OZARK Corporation entered into a P5,000,000 IRG 1-10, 9% contract with its bank. Interest rates at the beginnings of January, February, September and October of 2021 were 8.50%, 9.75%, 9.80% and 9.90%. How much is the cash to be received by OZARK solely from the IRG contract?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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On Jan. 1, 2021, OZARK Corporation entered into a P5,000,000 IRG 1-10, 9% contract with its bank. Interest rates at the beginnings of January, February, September and October of 2021 were 8.50%, 9.75%, 9.80% and 9.90%. How much is the cash to be received by OZARK solely from the IRG contract?
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