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Answered

A. Find the simple interest and the maturity value of the following.

1. PHP 1500,000 at 5% for 8 years.


2. PHP 80,000 at 7% for 4 years​

Sagot :

Maestro05go

Answer:

P21,000,000.00.

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 5%/100 = 0.05 per year.

Solving our equation:

A = 15000000(1 + (0.05 × 8)) = 21000000

A = P21,000,000.00

The total amount accrued, principal plus interest, from simple interest on a principal of P15,000,000.00 at a rate of 5% per year for 8 years is P21,000,000.00.

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