Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...
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Question
![What is the discount interest rate if P129,750 was obtained after a loan of P150,000 was
granted for 1 year and 6 months?
O 9%
13.5%
57.6%
O 10.8%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdc47e843-e21b-4bd6-926a-bf388118565a%2F204ad386-dfcf-444f-be6a-fa2453a76a52%2Frz8noqc_processed.png&w=3840&q=75)
Transcribed Image Text:What is the discount interest rate if P129,750 was obtained after a loan of P150,000 was
granted for 1 year and 6 months?
O 9%
13.5%
57.6%
O 10.8%
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