Civil Service Exam Reviewer · Simple Interest and Profit/Loss · medium
What is the maturity value of a ₱49,000 loan at 5% simple interest after 18 months?
- ₱3,675
- ₱93,100
- ₱52,675
- ₱51,450
Answer
C. ₱52,675
Solution
I = ₱49,000 × 0.05 × 18/12 = ₱3,675. Maturity value = ₱52,675.
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