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Math

Answered

What is the maturity value of a loan for 350,000 pesos at 4% simple interest
rate for 6 years?

Sagot :

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Answer:

84,000 PESOS

Step-by-step explanation:

PRINCIPAL = 350,000 PESOS

RATE = 4% OR 0.04%

TIME = 6 YEARS

350,000 PESOS × 0.04% = 14,000 PESOS

14,000 PESOS × 6 YEARS = 84,000 PESOS

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