I. Simple Interest Solve the following Problem 1. A man borrowed P45,000 from a lending institution at 8.5% simple interest. Find the interest and amount if the obligation is to be settled in: a. 1.5 years b. 30 months c. 2 years and 9 months 2. At what rate should P75,000 be invested in order to earn P5,100 interest in: a. 2.5 years b. 3.25 years c. 180 days 3. How long should P100,000 be invested at 8% simple interest in order to earn: a. P12,000 b. P16,000 c. P32,000
I. Simple Interest Solve the following Problem 1. A man borrowed P45,000 from a lending institution at 8.5% simple interest. Find the interest and amount if the obligation is to be settled in: a. 1.5 years b. 30 months c. 2 years and 9 months 2. At what rate should P75,000 be invested in order to earn P5,100 interest in: a. 2.5 years b. 3.25 years c. 180 days 3. How long should P100,000 be invested at 8% simple interest in order to earn: a. P12,000 b. P16,000 c. P32,000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:I.
Simple Interest
Solve the following Problem
1. A man borrowed P45,000 from a lending institution at 8.5% simple interest. Find the interest
and amount if the obligation is to be settled in:
a. 1.5 years
b. 30 months
c. 2 years and 9 months
2. At what rate should P75,000 be invested in order to earn P5,100 interest in:
a. 2.5 years
b. 3.25 years
c. 180 days
3. How long should P100,000 be invested at 8% simple interest in order to earn:
a. P12,000
b. P16,000
c. P32,000
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