Engineering Economics
What is considered as the standard unit which forms the basis of a country’s domestic money supply?

Monetary unit
Foreign exchange
Currency
Cash or check

ANSWER DOWNLOAD EXAMIANS APP

Engineering Economics
It is the practice of almost all banks in the Philippines that when they grant a loan, the interest for one year is automatically deducted from the principal amount upon release of money to a borrower. Let us therefore assume that you applied for a loan with a bank and the P80,000 was approved at an interest rate of 14% of which P11,200 was deducted and you were given a check of P68,800. Since you have to pay the amount of P80,000 one year after, what then will be the effective interest rate?

16.47 %
16.32 %
16.02 %
16.28 %

ANSWER DOWNLOAD EXAMIANS APP