A typhoon severely damaged a certain place in Bundok Peninsula Quezon Province. The wealthiest family in that area who happened to have large businesses have thought of a way to help SME’s or the small business enterprises to recover, as well as those poor families affected by the said typhoon. The family then decided to allot funds to lend to those who are victims of calamity by giving a simple interest loan for only 10% per annum. If the family was able to lend ₱1,500,000.00, how much interest would be earned after 5 years? Use a model table discussed in this lesson to show the simple interest earned. What do you think about Filipino values being shown in this situation? Can you think of other means to help the community with an application of simple interest?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
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1.A typhoon severely damaged a certain place in Bundok
Peninsula Quezon Province. The wealthiest family in that area who happened
to have large businesses have thought of a way to help SME’s or the small
business enterprises to recover, as well as those poor families affected by the said
typhoon. The family then decided to allot funds to lend to those who are victims
of calamity by giving a simple interest loan for only 10% per annum. If the
family was able to lend ₱1,500,000.00, how much interest would be earned after
5 years? Use a model table discussed in this lesson to show the simple interest
earned. What do you think about Filipino values being shown in this situation?
Can you think of other means to help the community with an application of simple
interest?

 

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