Question: 1. If 5,000 earns Php86.00 interest in 15 months, how much is the rate of interest? 2. If the interest rate is 7.5% per

1. If 5,000 earns Php86.00 interest in 15 months, how much is the rate of interest? 2. If the interest rate is 7.5% per year and the principal is Php2,500, determine the amount of interest for 20 months including the full amount. 3. How long will it take to accumulate Php3,200 to Php4,800 if money is worth 6.5%? 4. At what simple interest rate is Php20,500 the interest for 12 years on 40,000? 5. Mr. Cruz agreed to pay Mr. Toledo Php100,000 at the end of 5 years. How much should Mr. Cruz pay now to settle his account if Mr. Toledo agrees that money is worth (a) 8-1/2% simple interest, (b) 9-1/2% simple interest? Which rate is advantageous for Mr. Cruz and for Mr. Toledo?

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