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Question
1. Angel deposited P20,000.00 in a bank that pays 0.5% simple interest How much will be her money after 6 years? 2. What are the amounts of interest and maturity value of a loan for P150,000.00 at 612 % simple interest for 3 years? 3. In order to have P200,000.00 in 3 years, how much should you invest if the simple F interest is 5.5%? (Hint: Use the formula P = 🙂 1+rt – 4. Teresa borrowed P120,000.00 from her uncle. If Teresa agreed to pay an 8% annual interest rate, calculate the amount of interest she must pay if the loan period is 18 months. 5. A loan institution charges 12% simple interest for a 3-year, P60,000.00 loan. Find the total interest on the loan. b. Find the total amount that must be paid to the loan institution at the end of 3 years.
Answer #1 for Questions: 1. Angel deposited P20,000.00 in a bank that pays 0.5% simple interest How much will be her money after 6 years? 2. What are the amounts of interest and maturity value of a loan for P150,000.00 at 612 % simple interest for 3 years? 3. In order to have P200,000.00 in 3 years, how much should you invest if the simple F interest is 5.5%? (Hint: Use the formula P = 🙂 1+rt – 4. Teresa borrowed P120,000.00 from her uncle. If Teresa agreed to pay an 8% annual interest rate, calculate the amount of interest she must pay if the loan period is 18 months. 5. A loan institution charges 12% simple interest for a 3-year, P60,000.00 loan. Find the total interest on the loan. b. Find the total amount that must be paid to the loan institution at the end of 3 years.
Answer:
1. 20,600
2.
3.
4. amount of interest: 14,400
total amount you will pay: 134,400
Step-by-step explanation:
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