Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
Find the simple interest on a loan of P65,000 if the loan is given at a rate of 20% and is due in 3 years.

Find the simple interest on a loan of P65,000 if the loan is given at a rate of 20% and is due in 3 years.

Intermediate Algebra
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
See similar textbooks
icon
Related questions
Question
1. Find the simple interest on a loan of P65,000 if the loan is given at a rate of 20% and is due in 3 years. 2. Amparo invested a certain amount at 10% simple interest per year. After 2 years, the interest she received amounted to P3,000. How much did she invest? 3. Miko borrowed P25,000 at 10% annual simple interest rate. How much should he pay after 3 years and 6 months? 4. How long will 1 million pesos earn a simple interest of 200,000 at 2% per annum? 5. How long will an amount of P50,000 gain a simple interest of P10,000 at 4% per annum? 6. What is the future value if Yana accumulated P1,200.00 for 2 years at 3% per quarter simple interest? 7. At what simple interest rate per annum will P20,000 accumulate to P25,000 in 3 years? 8. Emil lent P5,000.00 at 15% for 7 months. How much will he get at the end of the term? How much interest did he earn? 9. How much money should you deposit in a bank so that it will accumulate to P100,000 at 1% simple annual interest for 10 years? 10. Dennis invested P15,000 at 13% interest for 3 years. What is the interest and maturity value?
Transcribed Image Text:1. Find the simple interest on a loan of P65,000 if the loan is given at a rate of 20% and is due in 3 years. 2. Amparo invested a certain amount at 10% simple interest per year. After 2 years, the interest she received amounted to P3,000. How much did she invest? 3. Miko borrowed P25,000 at 10% annual simple interest rate. How much should he pay after 3 years and 6 months? 4. How long will 1 million pesos earn a simple interest of 200,000 at 2% per annum? 5. How long will an amount of P50,000 gain a simple interest of P10,000 at 4% per annum? 6. What is the future value if Yana accumulated P1,200.00 for 2 years at 3% per quarter simple interest? 7. At what simple interest rate per annum will P20,000 accumulate to P25,000 in 3 years? 8. Emil lent P5,000.00 at 15% for 7 months. How much will he get at the end of the term? How much interest did he earn? 9. How much money should you deposit in a bank so that it will accumulate to P100,000 at 1% simple annual interest for 10 years? 10. Dennis invested P15,000 at 13% interest for 3 years. What is the interest and maturity value?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS