Miss Evilla borrowed money from a bank. She receives from the bank P1,340.00 and promised to pay P1,500.00 at the end of 9 months. Determine the corresponding discount rate or often referred to as the “banker’s discount”?

Related Mcqs:

What refers to the present worth of all the amount the bondholder will receive through his possession of the bond ?

A. Par value of bond B. Face value of bond C. Redeemed value of bond D. Value of bond...

What is defined as an entity which makes product, good or services available to buyer or consumer in exchange of monetary consideration ?

A. Seller B. Manufacturer C. Producer D. Buyer or consumer...

The exact simple interest of P5,000 invested from June 21, 1995 to December 25, 1995 is P100. What is the rate of interest ?

A. 3.90 % B. 3.92 % C. 3.95 % D. 3.98 %...

What refers to a document that shows proof of legal ownership of a financial security ?

A. Bond B. Bank note C. Coupon D. Check...

What refers to the claim of anyone to ownership ?

A. Proprietorship B. Assets C. Equity D. Liability...