Solve the problem below with solution and explanation of the final answer.

ESTIMATED COST: None Instruction: Solve the problem below, write your solution on a bondpaper and write an explanation on how you get your final answer. 1. A loan company charges P30 interest for a one-month loan of P1200. Find the annual interest rate they are charging. 2. To buy a computer, Jewel borrowed P25,000 at 9% interest for 2 years. How much money did she have to pay back? 3. Winston borrowed P27, 300 and after 3 years, paid back the loan with 8% interest. How muc was the interest paid? 4. Find the interest paid by Rodolfo Erfelo on P35, 000 that he borrowed for 2 years at 15% simple interest. 5. The repayment on a load was P13, 670. If the loan was for 15 months at 12% interest a year, how much was the principal? 6. If money is worth 12%, find the present value of P12, 680 due in 1 year and 6 months. 7. Interest of P1, 904 was charged on a loan of P6, 800 for 4 years. What simple annual rate of interest was charged on the loan? 8. A P2, 300 note with interest is repaid after 90 days with a check for P2, 374.75. What was the interest rate? 9. Find the rate of interest if the interest earned was P1, 785, the principal was P17, 000 and the term was 18 months. 10. Christine borrowed P12, 800 for 3 years. At the end of the years she returned P15, 872 for principal plus interest. Find the rate of interest. 11. What amount of interest will be charged on P7, 300 borrowed for 3 vears at of 12% per annum? 12. Angelica paid P9, 250 on a loan made 6 months before at 12% simple interest. Find the interest generated. 13. The interest earned on a P8, 000 term deposit was P1, 200. How long was the term if the interest rate was 6% per annum? 14. How many days will it take an investment of P3, 000 earnings 8% per annum to grow to P3, 144? 15. How long will it take P3, 200 to accumulate to P4, 448 at 13% simple interest? 16. If P17, 100, lent out at 8% annual interest, earned P8, 208 interest, how long had it been lent? 17. A debtor borrowed P16, 300 and after 4 years, paid back the loan with a 7% interest. How much was the interest paid? 18. If P14, 100 was borrowed at 13% simple interest, how much will the interest be for 3 years? 19. Determine the simple interest to be paid by Jennifer if she borrowed P18, 000 at 9.5% for 8 months. 20. Find the interest paid by Mary Ann on P25, 500 that she borrowed for 5 years at 7% interest. 21. Find the rate of interest if the interest earned was P500, the principal was P7, 500 and the term was 9 months. 22. What is the rate of interest on a 6-month loan for P4, 000 if the interest on the loan is P150? 23. A man borrowed P10, 000 for 8 years. At the end of the year he returned P12, 500 for principal plus interest. Find the rate of interest. 24. Find the time to accumulate an interest of P1, 200 when P8, 000 is invested at 4% simple interest. 25. How many months will it take for P18, 300 to earn P2, 08.75 if it is invested at 9% simple interest. 26. Find the term if the interest rate earned is P12, 600 and the principal is P30, 000 and the rate of interest is 12% 27. If P12, 000, lent out at 5% annual interest, earned P1, 500 interest, how long had it been lent