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Question
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”.
Options:
A .  13.15 %
B .  13.32 %
C .  13.46 %
D .  13.73 %
Answer: Option D

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