SOLUTION: Matthew borrowed Php30,000 on May 6, 2015 at a rate of 7 1⁄4 %. The loan was due on May 6, 2019. What was the amount of exact simple interest on the loan?

Algebra ->  Finance -> SOLUTION: Matthew borrowed Php30,000 on May 6, 2015 at a rate of 7 1⁄4 %. The loan was due on May 6, 2019. What was the amount of exact simple interest on the loan?      Log On


   



Question 1171615: Matthew borrowed Php30,000 on May 6, 2015 at a rate of 7 1⁄4 %. The loan was due on May 6,
2019. What was the amount of exact simple interest on the loan?

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
=30000*0.0725*4
=8700Php