A time deposits of P110,000 for 31 days earns P890.39 on maturity date after deducting the 20% withholding tax on interest income. Find the rate of interest per annum. A. 12.50% C. 11.95% B. 12.25% D. 11.75% Solution Click here to… Jhun Vert Sat, 06/29/2024 - 21:31 Solution Click here to expand or collapse this section $0.80I = 890.39$ $I = \dfrac{890.39}{0.801}$ $Prt = \dfrac{890.39}{0.801}$ $110,000r \left( \dfrac{31}{360} \right) = \dfrac{890.39}{0.801}$ $r = 11.75\%$ Log in or register to post comments Log in or register to post comments
Solution Click here to… Jhun Vert Sat, 06/29/2024 - 21:31 Solution Click here to expand or collapse this section $0.80I = 890.39$ $I = \dfrac{890.39}{0.801}$ $Prt = \dfrac{890.39}{0.801}$ $110,000r \left( \dfrac{31}{360} \right) = \dfrac{890.39}{0.801}$ $r = 11.75\%$ Log in or register to post comments
Solution Click here to…