An exact simple interest rate of 8.5% per year is applied on a PhP 50,000.00 made on January 7, 2012. If the total amount payable at the end of the loan is PhP 52, 821.72, what is the exact date the loan should be paid?
An exact simple interest rate of 8.5% per year is applied on a PhP 50,000.00 made on January 7, 2012. If the total amount payable at the end of the loan is PhP 52, 821.72, what is the exact date the loan should be paid?
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
Related questions
Question
An exact simple interest rate of 8.5% per year is applied on a PhP 50,000.00 made on January 7, 2012. If the total amount payable at the end of the loan is PhP 52, 821.72, what is the exact date the loan should be paid?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, civil-engineering and related others by exploring similar questions and additional content below.Recommended textbooks for you
Structural Analysis (10th Edition)
Civil Engineering
ISBN:
9780134610672
Author:
Russell C. Hibbeler
Publisher:
PEARSON
Principles of Foundation Engineering (MindTap Cou…
Civil Engineering
ISBN:
9781337705028
Author:
Braja M. Das, Nagaratnam Sivakugan
Publisher:
Cengage Learning
Structural Analysis (10th Edition)
Civil Engineering
ISBN:
9780134610672
Author:
Russell C. Hibbeler
Publisher:
PEARSON
Principles of Foundation Engineering (MindTap Cou…
Civil Engineering
ISBN:
9781337705028
Author:
Braja M. Das, Nagaratnam Sivakugan
Publisher:
Cengage Learning
Fundamentals of Structural Analysis
Civil Engineering
ISBN:
9780073398006
Author:
Kenneth M. Leet Emeritus, Chia-Ming Uang, Joel Lanning
Publisher:
McGraw-Hill Education
Traffic and Highway Engineering
Civil Engineering
ISBN:
9781305156241
Author:
Garber, Nicholas J.
Publisher:
Cengage Learning