1.Miss Esther Grey borrowed P70,000.00 at 16.8% simple interest. How much will she pay at the end of one year and 6 months? 2. Miss Isabela Jean, invested P100,000.00 pesos in a bank that pays 15.5% simple interest, how much will she have after 3 years? 3.The lender charge P348.00 for a loan of P3,500.00 for 2 2 year. Determine the rate of interest.

1.Miss Esther Grey borrowed P70,000.00 at 16.8% simple interest. How much will she pay at the end of one year and 6 months? 2. Miss Isabela Jean, invested P100,000.00 pesos in a bank that pays 15.5% simple interest, how much will she have after 3 years? 3.The lender charge P348.00 for a loan of P3,500.00 for 2 2 year. Determine the rate of interest.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2P: Cost of Bank Loan Mary Jones recently obtained an equipment loan from a local bank. The loan is for...

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