A man lends 6,000 for four years at 6.05 simple interest. At the end of this period,
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Question:
After deducting the 20.10% withholding tax on interest income, a 110,000-time deposit for 31 days earns 890.41 at maturity. Calculate the annual interest rate.
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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