1. A loan of Php 20,000 with a simple interest rate of 5% will be paid within 10 months. What value will you substitute fo t when you calculate the amount of interest? 2. A loan of Php 65,000 in March 2014 with a simple interest rate of 3% has been paid in March 2017 in the amount of P72,000. What is the duration of the loan?

1. A loan of Php 20,000 with a simple interest rate of 5% will be paid within 10 months. What value will you substitute fo t when you calculate the amount of interest? 2. A loan of Php 65,000 in March 2014 with a simple interest rate of 3% has been paid in March 2017 in the amount of P72,000. What is the duration of the loan?

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter1: Functions

Section1.1: Functions Given By Formulas

Problem 2TU: What is your monthly payment if you borrow 5000 at a monthly rate of 0.61 and pay it off in 5 years?

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