Anastasia Industries borrowed money at 9% interest for 125 days. If the interest charge was P5,600, use the ordinary interest method to compute the amount of principal of the loan.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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  1. Anastasia Industries borrowed money at 9% interest for 125 days. If the interest charge was P5,600, use the ordinary interest method to compute the amount of principal of the loan. 




2. What is the rate of interest on a loan of P250,000, for 245 days, if the amount of interest is P19,600, using the ordinary interest method? Round your answer to the nearest hundredth percent. 




3. Nissan-QC, borrowed P2,250,000 on April 16 to purchase a shipment of new cars. The interest rate was 9.3% using the ordinary interest method. The amount of interest was P9,600. 

a. For how many days was the loan? 

b. What was the maturity date of the loan? 

4. Andrea Anemone borrowed money to buy a car at 13.5% simple interest from her credit union. If the loan was repaid in 2 years and the amount of interest was P27,000, how much did Andrea borrow? 

 

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