How long will it take for a ₱30,000 investment to triple if a simple interest of 5% per annum is applied? An organization borrowed ₱500,000 for 5 years at 5.5% simple interest. What amount must the organization pay at the end of 5 years?

How long will it take for a ₱30,000 investment to triple if a simple interest of 5% per annum is applied? An organization borrowed ₱500,000 for 5 years at 5.5% simple interest. What amount must the organization pay at the end of 5 years?

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.50TI: Susana invested a principal of $36,000 in her bank account that earned simple interest at an...

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Question

How long will it take for a ₱30,000 investment to triple if a simple interest of 5% per annum is applied?

An organization borrowed ₱500,000 for 5 years at 5.5% simple interest. What amount must the organization pay at the end of 5 years?

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