The present value of P 14,000.00 has a true discount of P 14,700.00 in 7 years. How much is the rate per annum?

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 15PROB
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The present value of P 14,000.00 has a true discount of P 14,700.00 in 7 years. How much is the rate per annum?

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