7. A price tag of P 1,200.00 is payable in 60 days but if paid within 30 days it will have 3% discount. Find the rate of interest. 8. An investment was made two years and three months ago at 7% simple interest. The investor has just received the principal amount of the investment along with the P 30,000.00 interest. What is the principal amount of the investment?

7. A price tag of P 1,200.00 is payable in 60 days but if paid within 30 days it will have 3% discount. Find the rate of interest. 8. An investment was made two years and three months ago at 7% simple interest. The investor has just received the principal amount of the investment along with the P 30,000.00 interest. What is the principal amount of the investment?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 4P

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