5. A loan of P 25,000 is made for a period of 18 months, at a simple interest rate of 16% what future amount is due at the end of the loan period?

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: The Basic Tools Of Finance
Section: Chapter Questions
Problem 1CQQ
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5. A loan of P 25,000 is made for a period of 18 months, at a simple interest rate of 16% what future amount is due at the end of the loan period?


6. Dr. Grant borrowed money from his friend with simple interest of 12 %, find the present worth of P 50,000 which is due at the end of 9 months.

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