Activity 2: Practice your skills! 1. Citibank pays 9% ordinary simple interest on a 30-day time deposit. How much money will the depositor have at the end of the 30-day period if he or she deposits P1,500.00?

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
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Activity 2: Practice your skills!
1. Citibank pays 9% ordinary simple interest on a 30-day time deposit.
How much money will the depositor have at the end of the 30-day period
if he or she deposits P1,500.00?
2. The Villa Pawnshop charges 24% simple interest on the loan of all items
pawned to them. If Rose pawned her necklace for P1,200.00, how much
will she pay the pawnshop after 90 days assuming Villa Pawnshop
charges the following?
a. exact interest
b. ordinary interest
Transcribed Image Text:Activity 2: Practice your skills! 1. Citibank pays 9% ordinary simple interest on a 30-day time deposit. How much money will the depositor have at the end of the 30-day period if he or she deposits P1,500.00? 2. The Villa Pawnshop charges 24% simple interest on the loan of all items pawned to them. If Rose pawned her necklace for P1,200.00, how much will she pay the pawnshop after 90 days assuming Villa Pawnshop charges the following? a. exact interest b. ordinary interest
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