Maesouidn
Answered

Sumali sa IDNStudy.com at simulang makuha ang maaasahang mga sagot. Ang aming platform ay idinisenyo upang magbigay ng mabilis at eksaktong sagot sa lahat ng iyong mga tanong.

How much interest will Mika earn if she saves her Christmas present amounting to Php3,000.00 for 5 years with an interest rate of 3% ?

Sagot :

Step-by-step explanation:

A = ₱3,450.00

I = A - P =₱450.00

Equation:

A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 3%/100 = 0.03 per year.

Solving our equation:

A = 3000(1 + (0.03 × 5)) = 3450

A = ₱3,450.00