1. Asia Auto Parts borrowed ₱80,000 at 9% simple interest rate for 5 years to enhance its display area. Find the interest and the maturity value of the loan.
SIMPLE INTEREST PROBLEM
1. Asia Auto Parts borrowed ₱80,000 at 9% simple interest rate for 5 years to enhance its display area. Find the interest and the maturity value of the loan.
2. Bart’s Sound Shack borrowed ₱400,000 at 8% simple interest rate for 3 years to remodel its existing store. Find the interest and the maturity value of the loan.
3. To purchase two new industrial ovens, Palm Tree Bake Shop paid ₱13,500 interest on a 9% simple interest rate, 18-month loan. Find the principal borrowed.
4. Jun issued a check for ₱4,950 to settle a 1-year obligation of ₱4,500. What interest rate was he charge? 5. Aloha car Service barrowed ₱86,500 at 6.8% simple interest rate to cover the increasing cost of auto insurance. Find the term of the loan if the interest expense was ₱29,410.
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