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?

Correct answer:

x =  18270 Php

Step-by-step explanation:

a=18000 Php q=100%+1.5%=1+1001.5=1.015  x=a q=18000 1.015=18270 Php

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