Answered: What is the simple interest rate…

What is the simple interest rate applied if an investment of Php 37,500 accumulates to Php 45,937.50 in a period of 1.5 years? A. 25% B. 15% C. 20% D. 10% Thank you in advance.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 15PROB

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Question

What is the simple interest rate applied if an investment of Php 37,500 accumulates to Php 45,937.50 in a period of 1.5 years?

A. 25%

B. 15%

C. 20%

D. 10%

Thank you in advance.

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