Answered: What amount of interest will be charged…

What amount of interest will be charged on PhP7,300 borrowed for 3 years at simple interest rate of 12% per annum? A. PHP2,628

Structural Analysis

6th Edition

ISBN:9781337630931

Author:KASSIMALI, Aslam.

Publisher:KASSIMALI, Aslam.

Chapter2: Loads On Structures

Section: Chapter Questions

Problem 1P

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Engineering Economics Principles

Engineering economics (engineering economy) is a sub-field of economics to study the use and application of the economic principles in the engineering analysis of decisions along with the systematic evaluation of the advantages of project costs inclusive of engineering design and analysis. It emphasizes microeconomics (a subset of economics) for researching the behavior of people in the decision-making process of assigning and determining multiple alternatives to the usage of some of the restrained resources and merging economic theory and engineering practice in a practical manner. It depicts the logical framework of economics in addition to the analytical application of statistics and mathematics.

Question

What amount of interest will
be charged on PHP7,300
borrowed for 3 years at
simple interest rate of 12%
per annum?
A. PHP2,628
B. PHP2,638
C. PHP2,648
Answer:

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