Solve the following problems. Show your solutions 1. Mang Juan borrowed money to start a business. The bank told him that he has to pay a simple interest of 5% for 6 months on the amount he borrowed. If Mang Juan borrowed

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 57SE: Karl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what...
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Solve the following problems. Show your
solutions
1. Mang Juan borrowed money to start a
business. The bank told him that he has to pay
a simple interest of 5% for 6 months on the
amount he borrowed. If Mang Juan borrowed
P10,000, how much interest does he have to
pay on the 6th month? How much is the total
amount he has to pay on the 6th month?
Interest to pay on the 6th month:
Total amount to be paid on the 6th month:
2. Mr. Seniro invested Php 150,000 at 5% for 8
years and another Php 150,000 at 8% for 5
years. Which investment will yield higher
interest and by how much?
Transcribed Image Text:Solve the following problems. Show your solutions 1. Mang Juan borrowed money to start a business. The bank told him that he has to pay a simple interest of 5% for 6 months on the amount he borrowed. If Mang Juan borrowed P10,000, how much interest does he have to pay on the 6th month? How much is the total amount he has to pay on the 6th month? Interest to pay on the 6th month: Total amount to be paid on the 6th month: 2. Mr. Seniro invested Php 150,000 at 5% for 8 years and another Php 150,000 at 8% for 5 years. Which investment will yield higher interest and by how much?
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