Answered

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Mr. Muli has P10, 000 invested in a cooperative that pays a 6% yearly interest. In how many years will his investment earn P3, 450?

Sagot :

Choonheeidn


answer; 5 years and 9 months.

10,000 x 0.06 =  600

3, 450 ÷ 6 = 5.75

o.75 is equivalent to 3/4. we have 12 months a year, therefore 9 months is 3/4 of the year.

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