simple interest Solve the following problems: 1. Sassy borrowed P 10,500 on Nov. 6, 2020 to be repaid on April 11, 2021 at 15.3% interest in a year.  How much will the interest be?  Find the amount to be paid on the maturity date. 2. Find the exact interest and the final amount due on  P 12,350 at 11 % for 150 days, using ordinary interest. 3. The interest on a loan of P 2,500 is P 165.00 .  If the rate of interest is 6 %, when is the loan due?

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...
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simple interest

Solve the following problems:


1. Sassy borrowed P 10,500 on Nov. 6, 2020 to be repaid on April 11, 2021 at 15.3% interest in a year.  How much will the interest be?  Find the amount to be paid on the maturity date.



2. Find the exact interest and the final amount due on  P 12,350 at 11 % for 150 days, using ordinary interest.



3. The interest on a loan of P 2,500 is P 165.00 .  If the rate of interest is 6 %, when is the loan due?

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