Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years. Requirement: Compute the annual interest, total...

Your brother borrowed from your neighbor ₱7,000 to buy a new mobile phone. The neighbor charged 11% for the borrowed amount payable after three years. Requirement: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario using a simple interest assumption and compound interest assumption.