Directions: Solve the following. Avoid any form of erasures. (25 points)1. How much interest will be charged on ?7,300 borrowed for three (3) years at a simple interest rate of 12% per annum? (5 points)2. If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should be deposited to earn ?225 of interest? (5 points)3. How long will ?3,000 accumulate to ?5,000 if the discount rate is 4%? (5 points)4. Find the actual and approximate time from November 18, 2015 to May 9, 2016. (2 items x 5 points)

Directions: Solve the following. Avoid any form of erasures. (25 points) 1. How much interest will be charged on P7,300 borrowed for three (3) years at a simple interest rate of 12% per annum? (5 points) 2. If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should be deposited to earn P225 of interest? (5 points) 3. How long will P3,000 accumulate to P5,000 if the discount rate is 4%? (5 points) 4. Find the actual and approximate time from November 18, 2015 to May 9, 2016. (2 items x 5 points)