A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of money ?
A. 9.01 %
B. 9.14 %
C. 9.31 %
D. 9.41 %
A. 9.01 %
B. 9.14 %
C. 9.31 %
D. 9.41 %