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Mr.Santos borrowed P 18,000.00 at 1.5% interest for 1 year.What was the total amount he paid at the end of the 1 year term ?​

Sagot :

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I = prt where i is interest, p is principal, r is rate and t for time.

Sub: Interest,I=prt= (18,000 × 0.015 × 1) = 270

Answer: 18,000 + 270 = 18,270

• P 18,270, total amount he paid at the end of the year

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