Brothers Corporation borrows P70,000.00, annual interest rate of 19% is deducted in advance. What is the amount of proceeds the company will receive at the time of the loan and what is the effective interest rate choose the letter of the correct answer a. P13,300.00 and 19% b. P26,700.00 and 19% c. P13,300 and 23.5% d. P23,300.00 and 19% e. P56,700.00 and 23.5%
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Brothers Corporation borrows P70,000.00, annual interest rate of 19% is deducted in advance. What is the amount of proceeds the company will receive at the time of the loan and what is the effective interest rate
choose the letter of the correct answer
a. P13,300.00 and 19%
b. P26,700.00 and 19%
c. P13,300 and 23.5%
d. P23,300.00 and 19%
e. P56,700.00 and 23.5%
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