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Question: On May 1, 2020, Hazel borrowed a sum of money from Far East Bank , payable for 2 years at 8% simple interest. She paid P6,000 for the interest of her loan. Find how much was borrowed by Hazel.
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- On May 1, 2020, Hazel borrowed a sum of money from Far East Bank , payable for 2 years at 8% simple interest. She paid P6,000 for the interest of her loan. Find how much was borrowed by Hazel.1.) One hundred twenty days after borrowing money, Liz pays an interest of Php 215.00. How much did she borrow if the simple interest rate is 5 5/8 % 2.) Find the actual and approximate time from December 19, 2020, to June 6, 2021. Show the two solution 3.) Using the four methods, find the interest on Php. 4,400 at 5 4/5 % simple interest from September 9, 2020 to April 19, 2021On June 26, 2019, Naomi obtained a loan of P150,000 from a local businessman. The interest rate on the loan was 7.75% and it is to be paid on November 15, 2020. What is the Ordinary simple interest using exact time?
- Shawn borrowed RM5 000 from a bank on 30th March 2020.The amount to be paid by Shawn was RM5 021.67 and the simple interest rate was 6% per annum,find the date of repayment using the Banker's Rule. 23rd April 2020 25th April 2020 26th April 2020 24th April 20201. On 23 January 2021, Sofie took a loan of RM7000 from a local bank that charged r% simple interest per annum. By using Banker's Rule, Sofie settled her loan on 18 May 2021 by paying RM7134.17. Find: a) the term of the loan. b) the interest rate, r.On 29 March 2021, Justin deposited R3 500 into a savings account. The simple interest rate agreed upon was 7,5% per year. The accumulated amount in the savings account on 10 October 2021 is [1] R3 640,24. [2] R3 643,09. [3] R3 637,88. [4] R3 649,06. [5] none of the above
- a man borrowed P2000.000 from a bank and promised to pay the amount for 1 year. He received only the amount of P1920 after the bank, collected an advance interest of P80.00. Determine: interest rate rate of discount difference between A&BASAPFor items 16-20 Suppose that Zab borrowed P50,000 from a cooperative on January 8, 2020 and paid the entire sum including interest on April 3 of the same year, and that the interest rate is 1.5%. 16. Determine the exact time for the computation of exact interest. 17. Determine the approximate time for the computation of ordinary interest. 18. Find the amount of interest earned, if it is computed using the exact simple interest. 19. Find the amount of interest earned, if it is computed using the ordinary simple interest. 20. Find the amount of interest earned, if it is computed using the banker's rule.
- Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for the scenario below using a simple interest assumption and compound interest assumption. Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years.On April 5, 2022, Janeen Camoct took out an 8.75% loan for $25,000. The loan is due March 9, 2023. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrina's terms, however, are exact interest. (Ignore leap year.) (Use Days in a year table.) a. What is Sabrina's difference in interest? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Difference b. What will she pay on March 9, 2023? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Amount1. En.Rahim borrowed a sum of loan amount RM2500 on 9 November 2018. Five months later he paid back RM2850 with charges r% simple interest. No use excel. Find a) The date of repayment (9/4/2019) b) The simple interest rate, r. (33.6%)