Arman will pay back a P450,000 loan at the end of 26 months. This loan has an annual simple discount rate of 7%. How much money does Arman actually receive from the bank? A. P68,250 B. P381,750 C. P518,250 D. P581,750
Arman will pay back a P450,000 loan at the end of 26 months. This loan has an annual simple discount rate of 7%. How much money does Arman actually receive from the bank? A. P68,250 B. P381,750 C. P518,250 D. P581,750
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 18P
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