Dan invested Php 25,000 in a time deposit account that earns 1.25% simple interest rate for 30 days. Before deducting thewithholding tax, how much interest will he earn from the bank after 30 days.O Php 25.68O Php 205.48O Php 256.85O Php 20.58

In finance interest can be simple interest or compound interest. Simple interest is that interest…

Answered: Dan invested Php 25,000 in a time…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Dan invested Php 25,000 in a time deposit account that earns 1.25% simple interest rate for 30 days. Before deducting the withholding tax, how much interest will he earn from the bank after 30 days.