Answered: What rate of interest, compounded…

What rate of interest, compounded quarterly, should be provided by the bank if you want to raise Php 4,325 from a bank loan of Php 2,000 for five years?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What rate of interest, compounded quarterly,
should be provided by the bank if you want to
raise Php 4,325 from a bank loan of Php 2,000 for
five years?

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