If P12,700 was borrowed at 10.5% simple interest, how much will the interest be for 5 years?If P11,200 which was borrowed at an annual interest rate for 17% must be repaid in 6 months, what is the total amount to be paid at the end of 6 months. (Note: Convert 6 months to year)The repayment of the loan is P 35, 000.00. If the loan was for 24 months at 10% interest, how much was the loan originally borrowed?

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Math

Advanced Math

rate

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...

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Question

If P12,700 was borrowed at 10.5% simple interest, how much will the interest be for 5 years?
If P11,200 which was borrowed at an annual interest rate for 17% must be repaid in 6 months, what is the total amount to be paid at the end of 6 months. (Note: Convert 6 months to year)
The repayment of the loan is P 35, 000.00. If the loan was for 24 months at 10% interest, how much was the loan originally borrowed?

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