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A business man loaned P500,000 from a local bank that charges an interest rate of...

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Accounting

A business man loaned P500,000 from a local bank that charges an interest rate of 12%.

A. how much is he going to pay at the end of 5 years if it was made at 12% simple interest.

B. how much is he going to pay at the end of 6 years if it was made at 12% compounded quarterly.

C. how much is he going to pay at the end of 7 years if it was made at 12% compounded continuously.

-this is an continuous compounding

with solution

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