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Mr. J. Dela Cruz borrowed money from a bank and he receives P1,340.00 and promised to pay P1,500 at the end of 9 months. What

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Mr. J. Dela Cruz borrowed money from a bank and he receives P1,340.00 and promised to pay P1,500 at the end of 9 months. What is the effective rate corresponding to 18% compounded daily? Take 1 year is equal to 360 days

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