A bank pays simple interest at the rate of 8% per year for certain deposits. If a customer deposits ₱10,000 and make no withdrawals for three years, what is the interest earned in that period of time?
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Answer:
2400
Step-by-step explanation:
i=prt
i=10000×0.08×3
i=2400
the interest earned is 2400
hence, the customer will have 1000+2400= 12400 after 3 years.