1. Bank of Seguismundo offers a special instalment rate of 1% per month or 12%  per annum for appliance purchases. Your interest amounted to Php 12,000 for the principal amount loaned at Php 100,000. How many years or months was the term of the special instalment plan?  2. Ms Santos borrowed Php 10,000 from a loaning firm to start a food cart business. If the firm charges simple interest at an annual rate of 3%, how much must Ms Santos pay if she promised to return the money with the interest in two years?  3. At what simple interest rate must your deposit of Php 25,000 be credited if you want to earn Php 5,000 worth of interest in 5 years?

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Q: Calculate

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