Miguel wanted to apply for a loan in a lending company. The company offers different terms of loan which are as follows: P 50,000.00 loan at 1.15% interest compounded semi-annually for 3 years P 50,000.00 loan at 1.25% interest compounded annually for 3 years Questions: 1. What are the factors that Miguel can consider in choosing the terms of his loan? 2. What are the differences between the two terms of loans? 3. How much interest will a P 50,000.00 loan at 1.15% yield? How much is the interest of P 50,000.00 loan at 1.25%? 4. If you were Miguel, which between the two terms will you choose? Why?

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