Mara has earn P4,550.00 in her savings account. If the bank pays a simple interest at the rate of 6½% per annum, how much interest will she receive for 12 months?
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Mara has earn P4,550.00 in her savings account. If the bank pays a simple interest at the rate of 6½% per annum, how much interest will she receive for 12 months?
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Answer:
P292.50
Step-by-step explanation:
because the P4,550 with interest of 6½% per annum or per year is P292.50 and 12 months is 1 year or 1 annum