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Yenah73go
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what are the amounts of interest and maturity value of a loan for 150,000 at 6.5% simple interest for 3 years​

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KizunaHighgo

Calculating Interest.

Given

  • Principal Value (P) = ₱ 150,000
  • Interest Rate (R) = 6.5%
  • Time (T) = 3 years
  • Interest (I) = ?

I = PRT

I = (150,000)(0.065)(3)

I = ₱ 29,250

Calculating Maturity Value.

Given

  • Principal Value (P) = ₱ 150,000
  • Interest Rate (R) = 6.5%
  • Time (T) = 3 years
  • Maturity Value (F) = ?

F = P + PRT

F = (150,000) + (150,000)(0.065)(3)

F = 150,000 + 29250

F = ₱ 179,250

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