If you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principal and interest for an agreed length of time of 3 years, a. How much monthly payment is needed for each bank offer? b. How much interest would you pay for 3 years for each bank offer?c. Which is the best option for you among the given choices below if you are to pay monthly for 3 years?Justify your answer and apply simple and compound interest. WITH SOLUTIONNOT ANSWERED USING EXCELBank (Personal Loan)Monthly Interest RateA1.3%B1.89%C1.22%D1.5%E1.25% TaskIf you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principaland interest for an agreed length of time of 3 years,a. How much monthly payment is needed for each bank offer?b. How much interest would you pay for 3 years for each bank offer?c. Which is the best option for you among the given choices below if you are to pay monthlyfor 3 years?Justify your answer and apply what you have learned on simple and compound interest.Bank (Personal Loan)Monthly Interest RateA1.3%B1.89%1.22%1.5%E1.25%

Given that an amount of 30,000 is provided by a bank as loan at different interest rates for a…

f you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principal and interest for an agreed length of time of 3 years, a. How much monthly payment is needed for each bank offer? b. How much interest would you pay for 3 years for each bank offer? c. Which is the best option for you among the given choices below if you are to pay monthly for 3 years? Justify your answer and apply simple and compound interest. WITH SOLUTION NOT ANSWERED USING EXCEL Bank (Personal Loan) Monthly Interest Rate A 1.3% B 1.89% C 1.22% D 1.5% E 1.25%

f you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principal and interest for an agreed length of time of 3 years, a. How much monthly payment is needed for each bank offer? b. How much interest would you pay for 3 years for each bank offer? c. Which is the best option for you among the given choices below if you are to pay monthly for 3 years? Justify your answer and apply simple and compound interest. WITH SOLUTION NOT ANSWERED USING EXCEL Bank (Personal Loan) Monthly Interest Rate A 1.3% B 1.89% C 1.22% D 1.5% E 1.25%

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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Question

100%

If you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principal and interest for an agreed length of time of 3 years,

a. How much monthly payment is needed for each bank offer?

b. How much interest would you pay for 3 years for each bank offer?

c. Which is the best option for you among the given choices below if you are to pay monthly for 3 years?

Justify your answer and apply simple and compound interest. WITH SOLUTION

NOT ANSWERED USING EXCEL

Bank (Personal Loan)	Monthly Interest Rate
A	1.3%
B	1.89%
C	1.22%
D	1.5%
E	1.25%

Task
If you are planning to apply for a personal loan and borrow PhP 30,000 and repay the principal
and interest for an agreed length of time of 3 years,
a. How much monthly payment is needed for each bank offer?
b. How much interest would you pay for 3 years for each bank offer?
c. Which is the best option for you among the given choices below if you are to pay monthly
for 3 years?
Justify your answer and apply what you have learned on simple and compound interest.
Bank (Personal Loan)
Monthly Interest Rate
A
1.3%
B
1.89%
1.22%
1.5%
E
1.25%

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