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What will be the net proceeds from the investment

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Reference no: EM132998769

Catriona Gray's monetary prize in winning Ms. Universe amounted to $1.5M USD. On September 23,2021, she wanted to invest such amount (converted in peso @ 48.05), in a money market placement. She finds the following investment opportunities:

CONDITIONS                           BDO                      BPI                      LBP

Interest rate                        3.75%               4.5%              4.6%

                                      (net of tax)           (gross )          ( gross )

Term                                  180days                 180days      180days

Doc. Stamps                         50%                         60%              70%

                                        assumed                  assumed        assumed

                                           by bank                 by bank           by bank

Problem 1: As a financial consultant to Catriona, which investment opportunity will you recommend supposing only interest is withdrawn upon maturity.

Problem 2: Suppose Catriona Gray insisted to bank with Land Bank of the Philippines and pre-terminated her money market placement on January 16, 2022, what will be the net proceeds from her investment?

Reference no: EM132998769

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