A typhoon severely damaged a certain place in Bundok Peninsula Quezon Province. The wealthiest family in that area who happened to have large businesses have thought of a way to help SME’s or the small business enterprises to recover, as well as those poor families affected by the said typhoon. The family then decided to funds to lend to those who are victims of calamity by giving a simple interest loan for only 10% per annum. If the family was able to lend ₱1,500,000.00, how much interest would be earned after 5 years?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 22PFA
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1.2 What I Can Do: Read and analyze the situation below; then solve the question given. A typhoon severely damaged a certain place in Bundok Peninsula Quezon Province. The wealthiest family in that area who happened to have large businesses have thought of a way to help SME’s or the small business enterprises to recover, as well as those poor families affected by the said typhoon. The family then decided to funds to lend to those who are victims of calamity by giving a simple interest loan for only 10% per annum. If the family was able to lend ₱1,500,000.00, how much interest would be earned after 5 years?
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