A typhoon severely damaged a certain place in Bundok Peninsula Quezon Province. The wealthiest family in that area who happened to have large
businesses have thought of a way to help SME's or the small business enterprises
to recover, as well as those poor families affected by the said typhoon. The family
then decided to allot funds to lend to those who are victims of calamity by giving
a simple interest loan for only 10% per annum. If the family was able to lend
P1,500,000.00, how much interest would be earned after 5 years? Use a model
table discussed in this lesson to show the simple interest earned. What do you
think about Filipino values being shown in this situation? Can you think of other
means to help the community with an application of simple interest?