1. A bank offers 1.5% annual simple interest rate for a particular deposit. How much interest will be earned if I million pesos is deposited in this savings account for 1 year?
Solution:
Given:
r=1.5% or 0.015;
P=₱1,000,000.00;
t= 1 year
Is= Prt
Is = ₱1,000,000.00 (0.015)(1)
Is = ₱15,000.00
Therefore, an interest amounting to P15,000.00 will be earned if 1 million pesos is
deposited in a savings account for 1 year with 1.5% annual simple interest rate.
patulong po please with solution po sana
Solution:
Given:
r=1.5% or 0.015;
P=₱1,000,000.00;
t= 1 year
Is= Prt
Is = ₱1,000,000.00 (0.015)(1)
Is = ₱15,000.00
Therefore, an interest amounting to P15,000.00 will be earned if 1 million pesos is
deposited in a savings account for 1 year with 1.5% annual simple interest rate.
patulong po please with solution po sana
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