6. Andy obtained a loan of P125, 000 from a bank for buying tablets for...
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6. Andy obtained a loan of P125, 000 from a bank for buying tablets for his business. The bank charges compound interest at 8% per annum, compounded annually. What amount will he have to pay after 3 years to clear hisdebt?
7.Shelly took a loan ofP18, 000 from a financing company to purchase a TV set. If the company charges compound interest at 12% per annum compounded semi-annually, how much will she have to pay after 2 years?
8.Nancy borrowed P24, 000 from the State Bank to buy a scooter. If the rate of interest is 10% per annum compounded annually, what payment will she have to make after 2 years 3 months?
9.Abby invested P16,000 at 2/% per annum compounded quarterly. How much will she gain atthe end of 2 years?
10.Mike borrowed P36, 000 from a finance company at 10% per annum, compounded half-yearly. What amount of money will discharge his debt after 1/years?
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