Solve the following problems completely: 1. A business loan of P 1,000,000 is to be repaid in full after 3 years. If the interest rate is 7% per annum. How much should be paid after 3 years? 2. Ms. Newman had a P 55,000 business loan that is to be paid in 8 months. If interest rate is 12% compounded monthly, how much should be paid after 8 months? 3. For the purchase of an SUV worth P 1,200,000, the bank requires a minimum amount of 20% down payment, find the mortgaged amount.
