Engineering Economics
Engr. Trinidad loans from a loan firm an amount of P100,000 with a rate of simple interest of 20% but the interest was deducted from the loan at the time the money was borrowed. If at the end of one year, she has to pay the full amount of P100,000, what is the actual rate of interest?

0.25
0.247
0.235
0.258

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Engineering Economics
Which is NOT an essential element of an ordinary annuity?

Compound interest is paid on all amounts in the annuity.
The first payment is made at the beginning of the first period.
The payments are made at equal interval of time.
The amounts of all payments are equal.

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