Reference no: EM132846631
Simple Interest, Maturity Value and Manipulating the Simple Interest Formula
1. Hershey pays an interest of P350 five months after borrowing a certain amount. How much did she borrowed if the simple interest rate of 5.75%? Compute for the maturity value.
2. Find the simple interest on a P80,000 loan at 14.25% for 2 years and 3 months. Determine the maturity value.
3. Russell invested P3,000 in fund with interest rate of 3.75%. How much interest would she earn after 10 months? What is the amount payable at maturity?
4. Venus Raj invested in a fund which pays 12% per annum. The amount of investment is P50,000. How long would it take for the investment to double? How much is the total interest earned after the term? Determine the maturity value.
5. An interest of P7, 000 was earned in an investment of P60,000 for 3 years. What was the agreed interest rate?
6. For borrowing P20,000 for 3 years and seven months, a lender charges a borrower P1,050. What simple interest rate does the lender used?
7. It takes 5 years for an investment to double. If the investment is compensated with a simple interest of P6,000, at what rate the money was invested?
8. Interest of P2,000 is earned after 6 years. The investment's simple interest rate is 8.25%. How much is the principal amount?
9. Hubert borrowed P60,000 from Jessica. It bears 6% simple interest per annum for 3.5 years. After the term, what would Hubert's settlement with Jessica? What amount of income would Jessica recognize for the first year?
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Maturity value and manipulating the simple interest formula
: Hershey pays an interest of P350 five months after borrowing a certain amount. How much did she borrowed if the simple interest rate of 5.75%?
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