Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 5 1 pts Joselito loaned P35,000 for 100 days at 9.5%. After 45 days he took the note to the bank to discount it

image text in transcribed

Question 5 1 pts Joselito loaned P35,000 for 100 days at 9.5%. After 45 days he took the note to the bank to discount it at 10.8%. What is the amount of proceeds? 40,378.14 677.42 O 35,330.87 O 1,041.09

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Risk Management And Financial Institution

Authors: John C. Hull

2nd Edition

0136102956, 9780136102953

More Books

Students also viewed these Finance questions