Using the situations provided in Exercise 1, compute the annual interest, total interest, and amount to be received or paid at the end of the term for each scenario below using a simple interest assumption 1.Your mother invested ₱18,000 in government securities that yield 6% annually for two years. 2.Your father obtained a car loan for ₱800,000 with an annual rate of 15% for 5 years. 3.Your sister placed her graduation gifts amounting to ₱25,000 in a special savings account that provides an interest of 2% for 8 months. 4.Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years. 5.You deposited ₱5,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months.
Using the situations provided in Exercise 1, compute the annual interest, total interest, and amount to be received or paid at the end of the term for each scenario below using a simple interest assumption 1.Your mother invested ₱18,000 in government securities that yield 6% annually for two years. 2.Your father obtained a car loan for ₱800,000 with an annual rate of 15% for 5 years. 3.Your sister placed her graduation gifts amounting to ₱25,000 in a special savings account that provides an interest of 2% for 8 months. 4.Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years. 5.You deposited ₱5,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Using the situations provided in Exercise 1, compute the annual interest, total interest, and amount to be received or paid at the end of the term for each scenario below using a simple interest assumption
1.Your mother invested ₱18,000 in government securities that yield 6% annually
for two years.
2.Your father obtained a car loan for ₱800,000 with an annual rate of 15% for 5
years.
3.Your sister placed her graduation gifts amounting to ₱25,000 in a special
savings account that provides an interest of 2% for 8 months.
4.Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years.
5.You deposited ₱5,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months.
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