You put 280,000 dollars in a bank which gives you 0.75% interest compounded daily. If you leave that amount in the bank for an entire year, how much interest you will earn at the end of the year with a withholding tax of 20% choices: 1,680 pesos 2,100 pesos 2,000 pesos None of the above
You put 280,000 dollars in a bank which gives you 0.75% interest compounded daily. If you leave that amount in the bank for an entire year, how much interest you will earn at the end of the year with a withholding tax of 20% choices: 1,680 pesos 2,100 pesos 2,000 pesos None of the above
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
You put 280,000 dollars in a bank which gives you 0.75% interest compounded daily. If you leave that amount in the bank for an entire year, how much interest you will earn at the end of the year with a withholding tax of 20%
choices:
1,680 pesos
2,100 pesos
2,000 pesos
None of the above
![FEATURES
Account Closure
Php 300.00
Falling Below Minimum Balance
Php 300.00
Account Dormancy e
Php 30 00 4
withholding Tax for interest Earned
20%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7af96f30-497a-4adc-a951-2ec186a4eea6%2Ffde3a22d-3ecb-4e5c-a77f-e17837bb5072%2Ft0zlm9_processed.png&w=3840&q=75)
Transcribed Image Text:FEATURES
Account Closure
Php 300.00
Falling Below Minimum Balance
Php 300.00
Account Dormancy e
Php 30 00 4
withholding Tax for interest Earned
20%
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