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nena borrowed php75 000 from a credit union. at the end of 2 years he has to pay back at 8% interest. how much is the interest​

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KIZUNAHIGHIN

Calculating Interest.

Given

  • Principal Value (P) = ₱ 75,000
  • Interest Rate (R) = 8%
  • Time (T) = 2 years
  • Interest (I) = ?

I = PRT

I = (75,000)(0.08)(2)

I = (6000)(2)

I = ₱ 12,000

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