A Transport Company in the Philippines Borrows 60,000 Philippine Pesos

question 2

Multiple Choice

A transport company in the Philippines borrows 60,000 Philippine Pesos (PHP) at an interest rate of 6% per year. After 3 years, assuming they have paid nothing back, what it the value of Accrued Amount (to the nearest PHP) ?

• A) PHP 70,569
• B) PHP 70,951
• C) PHP 71,461
• D) PHP 71,989

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