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Answer:

Using the formula for simple and compound interest, solve the following problems. Write your solution

1. Alrich invested P3,000 with a simple interest of 3%. How much will it be after 5 years?

2. Christine invested P5,000.00 with a simple interest of 6%. How long will it take for the principal amount to be P7,100.00?

3. Sid borrowed money with a simple interest of 4% and payable for 8 months. How much did

he borrow if the interest amount is P160? 4. Jaque loaned a principal amount of P7,000 payable for 3 years. If the maturity amount is

P9,520, what is the simple interest rate?

5. Lei invested a principal amount of P2,500 that becomes P5,500 for 6 months. What is the simple interest of the investment?

6. Ray invested a principal amount of P4,000 with an interest rate of 6% compounded quarterly.

How much will it be after 4 years? 7. Cline loaned an amount of P5,000 with an interest rate of 7% compounded monthly. How much will it be after 7 years?

8. Jean loaned an amount of P8,500

Step-by-step explanation:

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