Utah Inc. would need cash of P5,000,000 for a period of 3 months from its bank. The latter offered 12% interest but it would be charged direct origination costs to be deducted in advanced in the...


Utah Inc. would need cash of P5,000,000 for a period of 3 months from<br>its bank. The latter offered 12% interest but it would be charged direct origination<br>costs to be deducted in advanced in the amount of P200,000. What would the<br>simple annual effective cost of this bank loan?<br>

Extracted text: Utah Inc. would need cash of P5,000,000 for a period of 3 months from its bank. The latter offered 12% interest but it would be charged direct origination costs to be deducted in advanced in the amount of P200,000. What would the simple annual effective cost of this bank loan?

Jun 04, 2022
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