Anabelleoriasidn
Answered

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How much money did Mr. Deo lagario deposit to his bank account if at the end of the year, it earned an interest of P413. 00 at 3.5 interest rate? ​

Sagot :

107940090056idn

Answer:

Step-by-step explanation:

250,000

Jennylynlacandili950idn

Answer:

In the given problem, apply your knowledge in algebraic expression specially in finance specifically in calculation of interest

Given:

at the end of a year ( 1 year) earned an interest of Php 413.00 3.5 interest rate

Solution:

The formula for simple interest is A = P (1 + rt), where

A is the total money Pis the principal amount, r is the interest rate in decimal t is the time period in years

Solve for Principal amount

A = P (1 + rt)

A = P+ gained interest

P + 413 = P(1+0.035(1))

P+ 413 = 1.035P

413 = 1.035P - P 413 = 0.035P

P = 11 800

Answer: Php. 11 800

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