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Discussion :: Engineering Economics

  1. You borrow P3,500.00 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the money from the bank?

    2. A.

     P 62.44
    B.

     P44.55
    C.

     P54.66
    D.

     P37.56

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    Answer : Option C

    Explanation :

    Explanation Not Provided

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