E. Problem Solving. Answer each of the following as indicated.1. A loan of Php 35,000 with a simple interest rate of 12% will be paid within 9 months. How muchinterest will you pay?2. Anabelle borrowed Php 20,000 that bears simple interest. She has fully paid Php 23,500 after 6months. How much interest did she pay?3. A loan of Php 100,000 on April 20, 2011 has been paid on April 2014 in the amount of P109,000.What is the duration of the loan?Pracice Set4. Joan borrowed from her friend, Mona, Php 6,500. She repaid Php 7,200 after 9 months. What wasthe rate of interest?

As posted multiple independent questions we are answering only first question kindly repost the…

Answered: 1. A loan of Php 35,000 with a simple…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. A loan of Php 35,000 with a simple interest rate of 12% will be paid within 9 months. interest will you pay? How much