warren deposited his ₱12,000.00 in a local bank in 2019.
1. if the bank offers 5% interest rate compounded annually, how much will be in his bank account in 2028?
2. suppose he will withdraw the principal in 2028 and will leave the interest in his account, how much will the interest earn after 5 years?
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Answer:
1. If the bank offer 5% interest rate compounded annual, how much will be in his bank account in 2028?
Answer:
Asked:
Operation:
Given:
Solution:
12,000-5%=11,400
2028-2019=9
11,400x9=102,600
2. Suppose he will withdraw the principal in 2028 and will leave the interest in his account, how much will the interest earn after 5 years?
Answer:
Asked:
Operation:
Given:
Solution:
600x5=30,000
Answer:
1. ɪғ 2028 ʜᴇ's ʙᴀɴᴋ ᴀᴄᴄᴏᴜɴᴛ ᴡᴏᴜʟᴅ ʙᴇ ₱102,600 ʟᴇғᴛ.
2. 30,000 ᴡɪʟʟ ʙᴇ ᴛʜᴇ ɪɴᴛᴇʀᴇsᴛ
Step-by-step explanation:
ʜᴏᴘᴇ ɪᴛ ʜᴇʟᴘ ʏᴏᴜ