A PRICE TAG OF P2,600.00 IS PAYABLE IN 60 DAYS BUT IF PAID WITHIN 30 DAYS IT WILL HAVE A 4% DISCOUNT. FIND THE RATE OF INTEREST.

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 29E
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A PRICE TAG OF P2,600.00 IS PAYABLE IN 60 DAYS BUT IF PAID WITHIN 30 DAYS IT WILL HAVE A 4%
DISCOUNT. FIND THE RATE OF INTEREST.
O
a. 53%
O b. 60%
O c. 55%
O d. 50%
Transcribed Image Text:A PRICE TAG OF P2,600.00 IS PAYABLE IN 60 DAYS BUT IF PAID WITHIN 30 DAYS IT WILL HAVE A 4% DISCOUNT. FIND THE RATE OF INTEREST. O a. 53% O b. 60% O c. 55% O d. 50%
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