5. Berman V. Parker is planning to borrow P10 Million from NBA Bank, which offers to lend the money at a 10 percent nominal, or stated rate on a one-year loan. What is the effective interest rate if...


5. Berman V. Parker is planning to borrow P10 Million from NBA Bank,<br>which offers to lend the money at a 10 percent nominal, or stated rate<br>on a one-year loan. What is the effective interest rate if the loan is a<br>discount loan? (round to nearest 4 decimal places)<br>

Extracted text: 5. Berman V. Parker is planning to borrow P10 Million from NBA Bank, which offers to lend the money at a 10 percent nominal, or stated rate on a one-year loan. What is the effective interest rate if the loan is a discount loan? (round to nearest 4 decimal places)

Jun 02, 2022
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