Answer:

₱624.32 of the compound interest

Solution:

Find the compound interest on ₱5,000 for 3 years at 4% per annum compounded annually.

Principal for first year = ₱5,000

Interest at 4% = ₱200

Principal for second year = ₱5,000

Interest at 4% = ₱208

Principal for third year = ₱5,408

Interest at 4% = ₱216.32

Total interest = ₱200 + ₱208 + ₱216.32 = ₱6.24.32