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A loan for P 60,000.00 is to be paid in 4 years at the amount of P 75,000.00 . What is the effective rate of money?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A loan for P 60,000.00 is to be paid in 4 years at the amount of P 75,000.00 . What is the effective rate of money?

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