Victor borrowed ₱500 at a simple interest rate of 3%. At the end of the loan period, the interest becomes ₱45. How long was the money the loaned?

Intermediate Algebra
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ISBN:9780998625720
Author:Lynn Marecek
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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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Victor borrowed ₱500 at a simple interest rate of 3%. At the end of the loan period, the interest becomes ₱45. How long was the money the loaned?

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