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I need to have a investment of money so that I can support my son's needs. But how?
Hi John! How are you?
Hello Belle! I'm fine. How about you and your family?
I'm fine John but right now I need to have an investment of money to support my son but I don't know how
I can help you Belle! You can borrow money from me but it should have an interest. So I can help you, and you can help me too!
So after I'll borrow your money, what's next?
After that, you can build your own store! Sari-sari store! That's a big source of investment.
That's great idea John. Thanks for your help but is it okay that I will borrow P50,000 and I'll pay it for 5 months?
Your welcome. Oh sure, but if that's the case there's a 10% interest per month.
So if you let me borrow 50,000 and I will pay it for 5 months and there's a 10% interest every month. How much should I pay you in every month?
10% of 50,000 is 5,000. Without an interest every month you should give me 10,000 but if we add the interest then you should give me 15,000 per month.
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