If the proceed of a loan of P25,000.00 will be paid with P27,000.00 at the end of 1 year and 3 months, what is the simple interest rate?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
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If the proceed of a loan of P25,000.00 will be paid with P27,000.00 at the end of 1 year and 3 months, what is the simple interest rate?

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