Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![5. Sam borrowed P4,500 for 2 years and had to pay
P630 simple interest at the end of that time.
What rate of interest did he pay?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa71acf3a-77fe-4859-ace3-5498a5409264%2Fac8e5798-e8f9-4161-98b8-6b0e63e4aa3f%2Ffg4701j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5. Sam borrowed P4,500 for 2 years and had to pay
P630 simple interest at the end of that time.
What rate of interest did he pay?
![6. If you invest P3,500 in savings account that pays
4% simple interest, how much interest will you earn
after 2 years and 5 months?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa71acf3a-77fe-4859-ace3-5498a5409264%2Fac8e5798-e8f9-4161-98b8-6b0e63e4aa3f%2Fn5yjjzd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:6. If you invest P3,500 in savings account that pays
4% simple interest, how much interest will you earn
after 2 years and 5 months?
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