A loan of P5,000 is made for a period of 15 months, at an annual simple interest rate of 15%, what future amount is due at the end of the loan period? pls show complete solution thank u

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 18E
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A loan of P5,000 is made for a period of 15 months, at an annual simple interest rate of
15%, what future amount is due at the end of the loan period?

pls show complete solution thank u

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