EJ opens a savings account in BPI where the money earns 2% interest per year. If he has Php 3,500.00 in his account, how much interest will the money earn in three years?
A.Php 7,000.00
B.Php 3,640.00
C. Php 70.00
A.Php 7,000.00
B.Php 3,640.00
C. Php 70.00
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Answer:
P3,710
Step-by-step explanation:
3,500 x 2%
3,500 x 0.02
= 70 ( interest for 1 year)
70 x 3
=210 (total interest for 3 years)
3,500 + 210
= 3,710 ( this should be the answer but it is not on the choices)