Mr. Cruz borrowed P110 000 at 5% simple interest to pay as down payment for a house and lot. If he was able to pay after 6 months, how much in all he pay?

Jack keeps an amount of P600,000 to the XYZ Bank that pays 10% simple interest rate. The transaction will run from September 2019 to September 2022. At the end of his transaction, he received P780, 000.

Rick borrowed P100 000 and promised to pay the principal plus interest at 8% compounded quarterly. 

How much must be repaid after 2 years?

Answer rating: 100% (QA)

1Mr Cruz paid 112750 2TRUE Jack paid 780000 for the 3 y... View the full answer