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compute for the simple interest and the amount on a 20,000 salary loan at 12 1/5% simple interest for 90 days​

Sagot :

ULEPISMAELDELEONGO

Answer:

The simple interest is ₱601.64.

Step-by-step explanation:

Given:

P= ₱20,000.00

r= 12 1/5% or in decimal 0.122

t= 90 days converted to one year 90/365

Find: Is

Formula:

Is=Prt

Solution:

Is= (₱20,000.00)(0.122)(90/365)

Is= (₱2,440)(90/365)

Is= ₱601.64

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