Question
I. Annual Interest, Total Interest, and Amount to be received or paid at the end of the term for each scenario using a simple interest
I. Annual Interest, Total Interest, and Amount to be received or paid at the end of the term for each scenario using a simple interest assumption:
1. Your mother invested Php 18,000 in government securities that yields 6% annually for two years.
2. Your father obtained a car loan for Php 800,000 with an annual rate of 15% for 5 years.
3. Your sister placed her graduation gifts amounting to Php 25,000 in a special savings account that provides an interest of 2% for 8 months.
4. Your brother borrowed from your neighbor Php 7,000 to buy a new mobile phone. Your neighbor charged 11% for the borrowed amount payable after three years.
5. You deposited Php 5,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months.
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