A businessman needs P50,000 for his operations. One financial institution is willing to lend him the money for 14% with the principal and the interest payable at the end of the year. A second financier is willing to lend him P50,000 payable in 12 equal monthly instalments of P4,600 each. Which offer is best for him?
A businessman needs P50,000 for his operations. One financial institution is willing to lend him the money for 14% with the principal and the interest payable at the end of the year. A second financier is willing to lend him P50,000 payable in 12 equal monthly instalments of P4,600 each. Which offer is best for him?
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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A businessman needs P50,000 for his operations. One financial institution is willing to lend him the money for 14% with the principal and the interest payable at the end of the year. A second financier is willing to lend him P50,000 payable in 12 equal monthly instalments of P4,600 each. Which offer is best for him?
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