The balance of Connie's savings account is Php2 500.00. She deposit Php500.00 more. How much interest will her new balance earn at the end of the year, if the bank gives 5% interest per annum on savings?
For most of us, we aren’t able to put a large sum of money in the bank today. Instead, we save for the future by depositing a smaller amount of money from each paycheck into the bank. In this section, we will explore the math behind specific kinds of accounts that gain interest over time, like retirement accounts. We will also explore how mortgages and car loans, called installment loans, are calculated
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Answer:
For most of us, we aren’t able to put a large sum of money in the bank today. Instead, we save for the future by depositing a smaller amount of money from each paycheck into the bank. In this section, we will explore the math behind specific kinds of accounts that gain interest over time, like retirement accounts. We will also explore how mortgages and car loans, called installment loans, are calculated
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