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To determine the amount Mr. Torres should pay to the Manila Teachers Savings and Loan Association (MTSLA) on June 8, 2015, we need to break down the problem into parts:

### Given:
- Principal (Initial Loan): ₱100,000
- Interest rate: 7% per annum
- Borrowing date: March 3, 2015
- Partial payment: ₱20,000 on April 7, 2015
- Final payment date (due date): June 8, 2015

### Steps:
1. **Calculate the interest for the first period (March 3, 2015 to April 7, 2015)** before Mr. Torres made the ₱20,000 payment.
   
   The number of days between March 3, 2015 and April 7, 2015 is:
   - March 3 to April 7 = 35 days.

   Interest for this period:
   \[
   I_1 = \frac{P \times r \times t}{365}
   \]
   where:
   - \( P = 100,000 \) (the principal),
   - \( r = 0.07 \) (annual interest rate),
   - \( t = \frac{35}{365} \) (the time fraction for 35 days).

2. **Calculate the remaining balance after the ₱20,000 payment** on April 7, 2015.

3. **Calculate the interest for the second period (April 7, 2015 to June 8, 2015)** on the new balance (₱100,000 minus the ₱20,000 payment).
   
   The number of days between April 7, 2015 and June 8, 2015 is:
   - April 7 to June 8 = 62 days.

   Interest for this period:
   \[
   I_2 = \frac{P_{\text{new}} \times r \times t}{365}
   \]
   where:
   - \( P_{\text{new}} = 80,000 \) (remaining principal after the payment),
   - \( r = 0.07 \),
   - \( t = \frac{62}{365} \).

4. **Add the interest from both periods** and compute the total amount Mr. Torres needs to pay on June 8, 2015.

Let's now compute this in detail.The total interest Mr. Torres accrues is ₱1,622.47. Therefore, the total amount he should pay on June 8, 2015, is approximately **₱81,622.47**.

Would you like further clarification or a breakdown of any of these calculations?

Here are some related questions for deeper understanding:
1. How is simple interest different from compound interest?
2. What would happen if Mr. Torres made a larger payment on April 7, 2015?
3. How would the calculation change if the interest rate were compounded monthly?
4. What impact does the length of time have on the total amount of interest?
5. How could Mr. Torres reduce the total interest paid?

**Tip:** Always make sure to check if the interest is compounded or simple, as it can significantly affect the final amount to be paid.

Mr. Torres borrowed ₱100,000 from the Manila Teachers Savings and Loan Association (MTSLA) on March 3, 2015 with interest at 7%. On April 7, 2015 he paid ₱20,000. Determine the amount Mr. Torres should pay MTSLA on June 8, 2015, the due date agreed by both parties.

Learn how to calculate the loan repayment for Mr. Torres who borrowed ₱100,000 at 7% interest with a partial payment of ₱20,000 on April 7, 2015. This problem involves calculating simple interest over two periods and determining the total amount due on June 8, 2015.

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