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  • M4 - Post Task: Formula: Given

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    Billy James Ramos
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    My family borrowed PHP 100,000 from a lending company at an annual interest rate of 20% to be repaid within 60 days. Using the simple interest formula of I=PRT, where P is the principal of PHP 100,000, R is the annual interest rate of 20% converted to 0.2, and T is the time period of 60 days converted to 6.08333 years, the total amount to be repaid is PHP 121,666.66.

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    My family borrowed PHP 100,000 from a lending company at an annual interest rate of 20% to be repaid within 60 days. Using the simple interest formula of I=PRT, where P is the principal of PHP 100,000, R is the annual interest rate of 20% converted to 0.2, and T is the time period of 60 days converted to 6.08333 years, the total amount to be repaid is PHP 121,666.66.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    5 views1 page

    M4 - Post Task: Formula: Given

    Uploaded by

    Billy James Ramos
    My family borrowed PHP 100,000 from a lending company at an annual interest rate of 20% to be repaid within 60 days. Using the simple interest formula of I=PRT, where P is the principal of PHP 100,000, R is the annual interest rate of 20% converted to 0.2, and T is the time period of 60 days converted to 6.08333 years, the total amount to be repaid is PHP 121,666.66.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    M4 - Post Task

    Problem:

    My Family borrowed money from a lending company with the amount of Php 100,000 at an 20%
    interest rate and we have to pay it under 60days. How much will my family pay in total ?

    Formula:
    I=Prt
    Given:
    P= 100,000
    T = 60days
    r= 12%
    R= 12/100 = 0.2
    T= 60days/365days = 6.08333

    Solution:
    R= 12/100 = 0.2
    T= 60days/365days
    I = (100,000) (0.2) (6.08333)
    I = 121,666.6

    My family will pay P121,666 in total under 60days. I solved the problem with the use of Simple
    Interest and Exact Time

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