1. An employee is loaned 200,000 pesos to pay in two years, at a rate of 3% quarterly interest. The loan will be repaid in equal installments at the end of the quarter. What is the magnitude of the quarterly fee? 

2. A person who earns 100,000 pesos a month today saves 10% of his salary throughout the year with the goal of taking a trip to Disney. The financial institution will recognize a 3% monthly interest on balances. With how much money do you leave home Mickey Mouse?

Answer rating: 100% (QA)

Answer 1 Amount of loan A 200000 pesos Quarterly interest rate r 3 Tot... View the full answer