Solution: Find the rate of return annually of a deposit of P110,000.00

(Last Updated On: December 8, 2017)

Find the rate of return annually of a deposit of P110,000.00

Problem Statement: CE Board May 1997

A deposit of P110,000.00 was made for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually.

  • A. 11.95%
  • B. 12.75%
  • C. 11.75%
  • D. 12.25%

Problem Answer:

The rate of return annually of a deposit of P110,000.00 is 11.75%.

Solution:

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Solution: Find the rate of return annually of a deposit of P110,000.00
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