. Emilio borrows Php 1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

To calculate the total amount Emilio will have to pay back, we first need to calculate the interest he will owe.

Step 1: Calculate the interest The formula for simple interest is I = PRT, where:

• I is the interest
• P is the principal amount (the initial amount of money)
• R is the rate of interest per period
• T is the time the money is invested or borrowed for, in years

In this case, P = Php 1200, R = 8/100 = 0.08 (we divide by 100 to convert the percentage into a decimal), and T = 2 years.

So, I = PRT = 1200 * 0.08 * 2 = Php 192

Step 2: Calculate the total amount to be paid back The total amount to be paid back is the sum of the principal amount and the interest. So, the total amount Emilio will have to pay back is Php 1200 + Php 192 = Php 1392.