A BANK CHARGES 15% SIMPLE INTEREST ON A P500.00 LOAN. HOW MUCH WILL BE REPAID IF THE LOAN IS PAID BACK IN ONE LUMP SUM (FUTURE AMOUNT) AFTER THREE YEARS? a. P275.00 O b. P752.00 O c. P725.00 d. P572.00

A BANK CHARGES 15% SIMPLE INTEREST ON A P500.00 LOAN. HOW MUCH WILL BE REPAID IF THE LOAN IS PAID BACK IN ONE LUMP SUM (FUTURE AMOUNT) AFTER THREE YEARS? a. P275.00 O b. P752.00 O c. P725.00 d. P572.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A BANK CHARGES 15% SIMPLE INTEREST ON A P500.00 LOAN. HOW MUCH WILL BE REPAID IF THE
LOAN IS PAID BACK IN ONE LUMP SUM (FUTURE AMOUNT) AFTER THREE YEARS?
O a. P275.00
O b. P752.00
O c. P725.00
O d. P572.00

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