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3. Mr. Villahermoza borrowed P22,000.00 in her savings account. If the bank pays 1.5% interest per year, how much will she receive at the end of the year?

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Sagot :

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Answer:

22,330

Step-by-step explanation:

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Answer:

✏PROBLEM:

3. Mr. Villahermoza borrowed P22,000.00 in her savings account. If the bank pays 1.5% interest per year, how much will she receive at the end of the year?

✏ANSWER:

[tex]22,330[/tex]

✏SOLUTION:

Given:

[tex]P = 22,000.00[/tex]

[tex]Rate = 1.5\%[/tex]

[tex]Time = 1 \: year[/tex]

Find:

Reiceve amount

Solution:

[tex]9nterst = \frac{22,000 \times 1.5\% \times 1}{100} \\ = 330[/tex]

[tex]Reicieve \: amount = 22,000 + 330 \\ = 22,330[/tex]

Hence answer: 22,330

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