Question: help me answer this one correctly. 2. A P2,000,000 issue of 3% 15 year bonds was sold at 95%. If miscellaneous initial expenses of the

help me answer this one correctly. 2. A P2,000,000 issue of help me answer this one correctly.

2. A P2,000,000 issue of 3% 15 year bonds was sold at 95%. If miscellaneous initial expenses of the financing were P20,000 and yearly expenses of P2,000 is incurred, what is the true cost, in %, to the company is paying for thing money it borrowed

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