1. How long will it take for your P18,000 to be doubled if invested at 3% simple interest? 2. The repayment on a loan was P18,720. If the loan was for 18 months at 10% interest a year, how much was the principal?

1. How long will it take for your P18,000 to be doubled if invested at 3% simple interest? 2. The repayment on a loan was P18,720. If the loan was for 18 months at 10% interest a year, how much was the principal?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 18P

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