Question
If an Ocampo Corporation issues P50 million of commercial paper with a maturity of 6 months at an annual interest rate of 7.5%, ignoring other
If an Ocampo Corporation issues P50 million of commercial paper with a maturity of 6 months at an annual interest rate of 7.5%, ignoring other charges other than the interest being deducted, what is the annual effective interest rate?
a. 3.75%
b. 7.79%
c. 3.90%
d. 7.50%
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
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