A typhoon severely damaged a certain place in Quezon Province. The wealthiest family in that area who happened to have large businesses have thought of a way to help SME's or the small business enterprises to recover, as well as those poor families affected by the said typhoon. The family then decided to allot funds to lend to those who are victims of calamity by giving a simple interest loan for only 10% per annum. If the family was able to lend P1,500,000.00. 1. How much interest would be earned after 5 years? 2. Use a model table discussed in this lesson to show the simple interest earned. Principal Rate Time Interest

A typhoon severely damaged a certain place in Quezon Province. The wealthiest family in that area who happened to have large businesses have thought of a way to help SME's or the small business enterprises to recover, as well as those poor families affected by the said typhoon. The family then decided to allot funds to lend to those who are victims of calamity by giving a simple interest loan for only 10% per annum. If the family was able to lend P1,500,000.00. 1. How much interest would be earned after 5 years? 2. Use a model table discussed in this lesson to show the simple interest earned. Principal Rate Time Interest

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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