1.) Suppose P55,000 was borrowed from ABC Lending Company at 5% interest per year for 2 years. Find the amount after two years.

Given:

Principal value of loan = 55,000

Rate of interest = 5%

Time = 2 year

To find:

The amount after two years.

Solution:

The formula for amount is

Where, P is principal, r is rate of interest in %, t is time in years.

Putting P=55,000, r=5 and t=2, we get

Therefore, the amount after two years is P60637.50.

-12 > a

step-by-step explanation:

-11 > 1 + a

subtract 1 from each side

-11 -1> 1 -1+ a

-12 > a