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14 if a house is sold for p300000000 and the bank

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14.If a house is sold for P3,000,000.00 and the bank requires 20% down payment,what is the amount of mortgage?a.2,400,000.00c.2,600,000.00b.2,500,000.00d.2,700,000.00
15.Using exact interest, what is the amount due (maturity value) if20,000.00 isinvested at 9% simple interest for 150 days?
From the previous modules, you have learned about percent, mark-up,markdown, mark-on, and solved problems involving buying and selling.Solving Problems on Simple InterestOur main goal in this module is for you to solve problems involving simpleinterest. But before we discuss how to solve such problems, let us define first thefollowing terms:Adepositis a financial term that means money is held at a bank. It is atransaction involving a transfer of money to another party for safekeeping.Aloanis a money (or property) given with the promise that it will be paid backin the future, usually with interest.Servicesare professional support to aid customers. This is sometimes describedas the intangible product.Utilitiesrefer to the basic amenities like electricity and water.Mortgageis a loan, secured by a collateral, that the borrower is obliged to payat specified terms.Amortizationis the process of reducing a cost or total in regular smallamounts.Interestis described as the money paid regularly at a particular rate for the useof money lent, or for delaying the repayment of a debt.TOPIC 1:What is It?D
3Principalis the original amount invested or borrowed.Rateis the amount of a charge or payment (usually in percent) with reference tosome basis of calculation.Timecan be defined as the duration or term used in solving simple interest.At this point, let us deepen your understanding on how to solve problemsinvolving interest. Let us have the following examples:A. Matoy started his small business by borrowing an amount of20,000.00 payablefor 3 years as a simple interest rate of 8% annually. How much is the interestthat he has to pay?Simple Interest (I):𝐼 ? ? 𝑒 ? 𝑒 ? ?=𝑃 ? 𝑖 ? 𝑐 𝑖 𝑝 𝑎 ?×? 𝑎 ? 𝑒×? 𝑖 ? 𝑒𝑰 = 𝑷 𝒓 𝒕Given:𝑰=?𝑷=20,000.00𝒕= 3𝑦 𝑒 𝑎 ? ?r= 8%Solution:𝑰=𝑷 𝒓 𝒕𝑰= (20,000) (0.08) (3)𝑰=𝟒,𝟖 ? ?.? ?B.Meena was given200,000.00 by her parents and she deposited it in a bank.Find the maturity value of Meenas money in five years if the bank offers a simpleinterest of 1% per annum.Maturity Value (F):𝐹=𝑃(1 +? ?)𝐹=𝑃+𝐼Given:𝑭= ?𝑷=200,000.00𝒓= 1%𝒕= 5𝑦 𝑒 𝑎 ? ?Solution:𝑭=𝑷(?+𝒓 𝒕)𝑭=200,000 [1 + (0.01) (5)]𝑭=? ? ?,? ? ?.? ?C. Dereck borrowed2,200,000.00 payable for 5 years to purchase a pick-up truck.A bank offered him a car loan with simple interest rate of 6.75% per year. What isthe maturity value of the loan?Given:Solution:
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Term
Spring
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Revenue, Licuanan, Mang Mario PhP280

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