Jake's uncle borrows Php100,000 from a bank with an annual interest of 15%. At the end of 4 years, how much will he pay back to the bank
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Answer:
Php 160 000
Step-by-step explanation:
amount due=Principal + interest
amount due= Principal + (Principal × rate × time in years)
Amount due= 100,000 + [100000×0.15×4]
=Php160,000
Answer:
Php 160 000
amount due=Principal + interest
amount due= Principal + (Principal × rate × time in years)
Amount due= 100,000 + [100000×0.15×4]
=Php160,000