👤
LUNNAYREINAIN
Answered

15. Rachel deposits Php 500.00 in a savings bank. If an interest of 7% is added to the principal at the end of each year, how much is his account at the end of 8 years?​

Sagot :

ANDREA0131IN

Answer:

Php 780.00

Step-by-step explanation:

Convert 7% to its decimal form which will be 0.07

Now multiply this to 500 and it will give you the answer of 35 (take note that it is only a one year interest and the question asked for 8 years so you will multiply this to 8)

35x8=280 (interest in 8 years)

Finally, we can add the interest to her initial money and that is Php 500 + Php 280 = Php 780

In Studier: Other Questions