A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is th

Question

A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of money?

Options:

A . 9.01 %

B . 9.14 %

C . 9.31 %

D . 9.41 %

Answer: Option B

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