Question
Mr. Dela Cruz opened a time deposit of Php 100,000 that earns 2.5% per year. Suppose he agreed to leave his money in the bank
Mr. Dela Cruz opened a time deposit of Php 100,000 that earns 2.5% per year. Suppose he agreed to leave his money in the bank for 270 days. Considering the 20% withholding tax charged to peso time deposits, how much will he receive at the end of the term?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
12th Edition
1439044473, 978-1439044476
