Answer to Question #267348 in Financial Math for Ayana Prica

Question #267348

The loan of Php1,350 is to be repaid in 1 year at 4.5% simple interest. How much is added to the loan?

Expert's answer

for simple interest:

"A=P(1+rt)"

"A=1350(1+0.045)=Php\\ 1410.75"

it is added to the loan:

"A-P=1410.75-1350=Php\\ 60.75"

Learn more about our help with Assignments: Math

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. How much was borrowed if a simple interest rate of 2.10% was offered payable in 4 months with intere
2. How many months will it take Php15,000 to earn Php56.25 at 1.5% simple interest rate?
3. What is the simple interest on a Php500 loan at 2.5% interest to be paid at the end of 6 months?
4. Nyamindi and his wife run a store and he presented the following figures for his income and expendit
5. QUESTION ONEYou are provided with the following information taken from the books ofMackenzie manufac
6. a) Discuss the terms residence and domicile as used in taxationb) What is the importance of residenc
7. Opening stock 16000 Sales returns 250000 Purchases 150,000 Closing stock 25000 Staff costs 45000 Pr