Question

1. What is the maturity value of P12,500 if it is invested at 15% simple interest for 250 days using ordinary interest?

Answer 1

$13,784.25

Step-by-step explanation:

Simple interest = P x R x T

(P12,500 x 15 × 250) / 100 × 365 = $1284.25

Value = $1284.25 + P12,500 = $13,784.25

I hope my answer helps you