Joyce went to a bank to borrow 100,000 pesos for a gadget she wanted to buy. The bank charges a simple interest of 5% and Joyce will repay this loan for a period of 3 years. How much interest does she have to pay?

Joyce went to a bank to borrow 100,000 pesos for a gadget she wanted to buy. The bank charges a simple interest of 5% and Joyce will repay this loan for a period of 3 years. How much interest does she have to pay?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.2: Solve Percent Applications

Problem 3.42TI: Hang borrowed $7,500 from her parents to pay her tuition. In 5 years, she paid them $1,500 interest...

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