🎓 Academic Problem solving using 4-step process

[jmatchu]

A loan of P100,000 has been issued for 5 years. Compute for the amount to be repaid to the lender if simple interest is charged at 4.75% per annum. Show your complete solution

 

[workenMW]

₱100,000 x 1.0475 (4.75%) = ₱104,750
₱104,750 x 1.0475 (4.75%) = ₱109,725.63
₱109,725.63 x 1.0475 (4.75%) = ₱114,937.59
₱114,937.59 x 1.0475 (4.75%) = ₱120,397.13
₱120,397.13 x 1.0475 (4.75%) = ₱126,115.99