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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

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

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