Cash flow and deferred annuity

Question

If you know someone borrowing from a moneylender, ask how much you will be

charged if you want to borrow P1,000, payable in 1 year. [One common nonformal lending practice in the Philippines is called five-six.]

Answer 1

I don't know any moneylenders currently, but if you have a percent they charge you can figure out how much you will owe like this.

Base Amount * Percent

Make sure you put the percent in decimal notation.