IDNStudy.com, kung saan ang kuryusidad ay nagtatagpo ng kalinawan. Tuklasin ang malawak na hanay ng mga paksa at makahanap ng maaasahang sagot mula sa mga bihasang miyembro ng aming komunidad.

Mrs. Santos invested P 15 000 in the money market for 2 years. The yearly rate of interest was 12%. How much did the money earn in 2 years?

Sagot :

The interest is computed as:
[tex]Interest=Principal*Rate*Time \\ =15000*0.12*2=3600[/tex]

Therefore the interest is P3600
To get the money she earned through interests,
P 15000 x 0.12=P 1800
That is the first year, since we need 2 years multiply P 1800 by 2
P 1800 x 2=P 3600

Hope this helps =)