3. A Php 200 000.00 bond, paying interest at 9% was bought at Php 160 000.00 plos
Php 300.00 commission. What is the rate of income on the investment?
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3. A Php 200 000.00 bond, paying interest at 9% was bought at Php 160 000.00 plos
Php 300.00 commission. What is the rate of income on the investment?
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Answer:
0.001875
Step-by-step explanation:
200,400 bond
160,000 investment or the principal amount
160,000 times 9% = 200,4000
300 commission revenue/income
300 divided by 160,000 = 0.001875 commission rate