Calculate the annual interest to be paid

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Reference no: EM133089743

Activity 1 Directions:

Solve the following problems.

1. Glenda owes the bank some money at 4% per year. After half a year; she paid PhP220:00 as interest. How much money does she owe the bank?

2. Martin takes a loan of PhP250,000 to buy a used truck at the rate of 9% simple interest. Calculate the annual interest to be paid for the loan amount.

Reference no: EM133089743

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