14. Maria borrowed Php 75,000 from a credit union. At the end of 2 years, she has to pay back 8% interest. How much is the interest? a. p6,000 b.P 5,000 c.P 7,000 d. P8,000
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14. Maria borrowed Php 75,000 from a credit union. At the end of 2 years, she has to pay back 8% interest. How much is the interest? a. p6,000 b.P 5,000 c.P 7,000 d. P8,000
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Answer:
A. P 6000
Step-by-step explanation:
I = Prt or P×r×t
(75,000)(0.08)
I = P 6000
P= Php 75,000
r= 8% or 0.08
t= 2 years