Jean invests P1000 on October 1, 2015 to October 1, 2022.
The investment earns 8% per annum simple interest, paid
every October 1st of the year.
a) How many years did he invest his money? What is n?
b) How much is the increase of his money every year?
c) Complete the table below.
d) Determine the value of the investment on October 1, 2022.
e) What is the difference between saving money in a bank and keeping it as cash in
your house?​