# Loan 4

Mr santos borrowed Php.18,000 at 1.5% interest for one year. What was the total amount he paid for the end of the 1-year term?

Result

x =  18270

#### Solution:

$a=18000 \ \\ q=1 + \dfrac{ 1.5 }{ 100 }=\dfrac{ 203 }{ 200 }=1.015 \ \\ \ \\ x=a \cdot \ q=18000 \cdot \ 1.015=18270$

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