Answer to Question #233730 in Civil and Environmental Engineering for Alan Enrico V Tuib

Question #233730
A loan of P2, 000 is made for a period of 13 months, from January 1 to January 31 the following year, at a simple interest of 20%. What is the future amount is due at the end of the loan period?
1
Expert's answer
2021-09-06T05:44:14-0400

"F=P(1+ni)"

"F=P2,000(1+13\/12(0.2))"

"F=P2433.33"


Answer: "P2433.33"


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