joanbeabonifacio joanbeabonifacio

14-12-2021
Mathematics

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Find the maturity value of a loan of Php 5,000 at an interest rate of 15% in 2 years

Respuesta :

sqdancefan sqdancefan

14-12-2021

Answer:

Php 6500

Step-by-step explanation:

Assuming simple interest, the value after 2 years is ...

A = P(1 +rt) . . . . . value of loan of principal P at annual rate r for t years

A = 5000(1 +0.15·2) = 5000(1.30) = 6500

The maturity value will be Php 6500.

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