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Math

Answered

( Simple Interest )

Solve the problem

A bank charges 2.25% simple interest per month on housing loans. If Anthony borrows P64,000 for a period of 2 years and 3 months, what is the total interest that he has to pay?

Sagot :

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Answer:

64000

×0.0225

=1440

1440

×2.25

=3240

Answer:P3,240.00

Step-by-step explanation:

Use the formula in finding simple interest-Principal×Rate of Interest×Time

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