Verified answer

Calculating the Future Value.

Given

• Principal Amount (P) = ₱ 8,500.00
• Time (T) = 3 years
• Rate of Interest (R) = 9%
• Future Value (F) = ?

F = P + PRT

F = 8,500.00 + (8,500.00)(0.09)(3)

F = 8,500.00 + 2295

F = ₱10,795.00

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