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Find how much interest he was charged

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Question - Giovanni applied for a loan which amounts to P 70, 000.00 in a corporation which deals 5% compounded bimonthly.

(a) Find how much interest he was charged if loan is payable for 2 years.

(b) How many years (whole) should the loan be paid if he was charged of repaying the loan for P 140, 000.00 in all?

Reference no: EM132847567

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