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1: As a financial consultant to Catriona, which investment opportunity will you recommend supposing only interest is withdrawn upon maturity.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