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  • M4 - Check-In Activity 1

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    ajoy
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    Mr. Ang had PHP165,000 after 10 months in a bank earning 12% annual interest. Using the compound interest formula, the document calculates that Mr. Ang must have started with PHP1,650,000. Mr. So borrowed PHP200,000 at a 15% annual interest rate and needs to repay the loan after 18 months. Using the compound interest formula again, the document finds that Mr. So will need to pay PHP45,000 for the loan after 18 months.

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    Mr. Ang had PHP165,000 after 10 months in a bank earning 12% annual interest. Using the compound interest formula, the document calculates that Mr. Ang must have started with PHP1,650,000. Mr. So borrowed PHP200,000 at a 15% annual interest rate and needs to repay the loan after 18 months. Using the compound interest formula again, the document finds that Mr. So will need to pay PHP45,000 for the loan after 18 months.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    10 views2 pages

    M4 - Check-In Activity 1

    Uploaded by

    ajoy
    Mr. Ang had PHP165,000 after 10 months in a bank earning 12% annual interest. Using the compound interest formula, the document calculates that Mr. Ang must have started with PHP1,650,000. Mr. So borrowed PHP200,000 at a 15% annual interest rate and needs to repay the loan after 18 months. Using the compound interest formula again, the document finds that Mr. So will need to pay PHP45,000 for the loan after 18 months.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    1. Mr. Ang’s money became Php165,000 @ the end of 10 months.

    If the bank
    pays 12% annually, how much was his money @ the start?

    I = 165,000

    r = 12% = 0.12

    10
    t = 10 months =
    12

    P=?

    Formula:

    𝐼
    𝑝 = 𝑟𝑡

    165,000 165,000
    𝑝 = 10 = 0.1
    = 𝑝 = 1, 650, 000
    (0.12) ( 12
    )

    𝑝 = 1, 650, 000

    Answer: Mr. Ang’s money from the start is Php 1,650,000

    2. Mr. So borrowed Php200,000 from a cooperative that charges 15% yearly. He


    used the loan to start his food stand business. How much will he pay for the
    loan after 18 months?
    P = 200,000

    r = 15% = 0.15

    18
    t = 18 months =
    12

    Formula:

    𝐼 = 𝑃𝑟𝑡
    18
    𝐼 = (200, 000) (0. 15) ( 12 )

    𝐼 = 45, 000

    Answer: Mr. So will pay Php 45,000 for his loan after 18 months.

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