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:
Latest Problem Solving in Engineering Economics (Simple & Compound Interest)
div.feedburnerFeedBlock ul li {background: #E2F0FD;
list-style-type: none;
margin:0 0 5px 0px;
padding:5px 5px 5px 10px !important;
border: 1px solid #0080ff;
border-radius:8px;
-moz-border-radius:8px;
-webkit-border-radius:8px;
}
div.feedburnerFeedBlock ul li:hover {
background:#ffffff;
}
div.feedburnerFeedBlock ul li a{
color:#ffffff;
text-decoration:none;
}
div.feedburnerFeedBlock ul li a:hover {
text-decoration: underline;
color: #000000;
}
div #creditfooter{
display: none;
}
More Questions in: Engineering Economics (Simple & Compound Interest)
