1. Simple Interest (borrowed money) 1. What is the amount of interest of a loan for 154,000 at 6% simple interest for 24 months? 2. Maren goes to BDO and borrows 150,000 at 9% for 250 days. If the bank uses a simple interest method, how much will Maren have to pay? 3. Rochelle goes to BPI and borrows 300,000 at 15% for 300 days. If the bank uses a simple interest method, how much will Rochelle have to pay?
1. Simple Interest (borrowed money) 1. What is the amount of interest of a loan for 154,000 at 6% simple interest for 24 months? 2. Maren goes to BDO and borrows 150,000 at 9% for 250 days. If the bank uses a simple interest method, how much will Maren have to pay? 3. Rochelle goes to BPI and borrows 300,000 at 15% for 300 days. If the bank uses a simple interest method, how much will Rochelle have to pay?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:SIMPLE INTEREST/ FIXED COST / BREAK
EVEN POINT
1. Simple Interest (borrowed money)
1. What is the amount of interest of a loan for
154,000 at 6% simple interest for 24 months?
2. Maren goes to BDO and borrows 150,000 at 9%
for 250 days. If the bank uses a simple interest
method, how much will Maren have to pay?
3. Rochelle goes to BPI and borrows 300,000 at
15% for 300 days. If the bank uses a simple
interest method, how much will Rochelle have to
pay?
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