Ms. Kim borrowed an amount from a bank but she only recieved from the bank P1,340. She promised to paythe principal at the end of 9 months. If the corresponding discount rate or often referred toas the banker'sdiscount is 13.73%, what is the amount borrowed?P1,200P1,250P1,350P1,500

In this we have to find out the future value of amount. Principal amount=P 1340 Discount rate=13.73%…

Answered: Is. Kim borrowed an amount from ne…

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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Is. Kim borrowed an amount from ne principal at the end of 9 months iscount is 13.73%, what is the ame O P1,200 O P1,250 O P1,350 O P1,500