Annie buys a television set from a merchant who ask P1,250 at the end of 60 days. Annie wishes to pay immediately and the merchant offers to compute the cash price on the assumption that money is worth 8% simple interest. What is the cash price?
- A. P1,233.55
- B. P1,244.68
- C. P1,323.66
- D. P1,392.67
The cash price of the television set bought by Annie is P1,233.55.
This content is for Premium Member. Tired of ads?
Subscribe To Unlock The Content! and Remove Ads.
More Questions in: Engineering Economics (Simple & Compound Interest)
Also Questions in: Engineering Economics (Annuity, Depreciation, Bonds, Breakeven, etc.)