Find the simple interest rate of the principal of Php. 15,000 with simple interest of Php. 30,000 for 5 years. а. 30% b. 40% C. 35% d. 45% е. 50%

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter1: Functions
Section1.1: Functions Given By Formulas
Problem 2TU: What is your monthly payment if you borrow 5000 at a monthly rate of 0.61 and pay it off in 5 years?
icon
Related questions
icon
Concept explainers
Topic Video
Question
Find the simple interest rate of the principal
of Php. 15,000 with simple interest of Php.
30,000 for 5 years.
а. 30%
b. 40%
C. 35%
d. 45%
е. 50%
Transcribed Image Text:Find the simple interest rate of the principal of Php. 15,000 with simple interest of Php. 30,000 for 5 years. а. 30% b. 40% C. 35% d. 45% е. 50%
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL