Answered: • You borrow Php 5,000 today and must…

• You borrow Php 5,000 today and must repay a total of Php 4,500 exactly 1 year later. What is the interest amount and the interest rate paid?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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• You borrow Php 5,000 today and must repay a total of
Php 4,500 exactly 1 year later. What is the interest
amount and the interest rate paid?

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