Simple interest 1. If 30,000Pesos accumulates to 30,412.50!at 8 ¼ % simple interest, how many days are needed? 2. Mr. Alvin bought a new car. To pay for the car, which was priced at 1,200,000Pesos, he gave 500,00Pesos as a down payment and agreed to pay the balance in 2 years. Find the amount of interest paid if the interest rate is 12% simple interest.
Simple interest 1. If 30,000Pesos accumulates to 30,412.50!at 8 ¼ % simple interest, how many days are needed? 2. Mr. Alvin bought a new car. To pay for the car, which was priced at 1,200,000Pesos, he gave 500,00Pesos as a down payment and agreed to pay the balance in 2 years. Find the amount of interest paid if the interest rate is 12% simple interest.
Chapter1: Financial Statements And Business Decisions
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Simple interest
1. If 30,000Pesos accumulates to 30,412.50!at 8 ¼ % simple interest, how many days are needed?
2. Mr. Alvin bought a new car. To pay for the car, which was priced at 1,200,000Pesos, he gave 500,00Pesos as a down payment and agreed to pay the balance in 2 years. Find the amount of interest paid if the interest rate is 12% simple interest.
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