1. Mr. Jones borrowed P 20,000 from a lending firm and an additional P 5,000 after 2 months. He paid P 10,000 after 1 year and an additional payment of P 12,000 at the 18th month. The lending firm demanding Mr. Jones to pay all at the end of 2 years. If interest is 12% compounded monthly, how much will Mr. Jones pay at the end of 2 years. Note: The reference of all the time is the time P20,000 is borrowed.
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1. Mr. Jones borrowed P 20,000 from a lending firm and an additional P 5,000 after 2 months. He paid P 10,000 after 1 year and an additional payment of P 12,000 at the 18th month. The lending firm demanding Mr. Jones to pay all at the end of 2 years. If interest is 12% compounded monthly, how much will Mr. Jones pay at the end of 2 years. Note: The reference of all the time is the time P20,000 is borrowed.
2. A businessman invest P 100000 right now. He then received two payments P109460.00 one at the end of 3 years and one at the end of the 6th year. Calculate the rate of return of the investment.
3. A merchant is offered a 5% discount for immediate payment of a bill which is due in 90 days. What is the largest simple interest at which the merchant could afford to borrow in order to pay in cash today?
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