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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Question
Tony wants to know which credit company offers lower interest at the same interest rate of 9 % if he plans to borrow a quick cash of Php 30,000 for 90 days. Company A uses the ordinary interest method to compute for the interest while, Company B applies exact interest method. Which company will he choose? What is the difference between the interests offered by the two companies?
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