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Jayvee opens a savings account in land bank where the money earn 5% interest per year. If he has Php 7,500.00 in this account, how much interest will the money earn in a year?

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FROG24IN

Answer:

The interest of jayvee's money in the bank for a year is [tex]\sf{Php \: 375.00}[/tex]

Step-by-step explanation:

[tex]\sf{interest \: (I) \: = \: Principal \: (P) \times Rate \: of \: interest \: (RI) \times Time \: (T)}[/tex]

[tex]\sf{= \: Php \: 7,500.00 \times 5 \% \: \times \: 1 \: year}[/tex]

[tex]\sf{= \: Php \: 7,500.00 \times 0.05 \times 1}[/tex]

[tex]\sf{= \: Php \: 375.00}[/tex]

#CarryOnLearning

Php. 7,500 × 5% × 1 year

[tex] = \frac{7500 \times 5}{100} \times 1[/tex]

[tex] = \frac{37500}{100} \times 1[/tex]

[tex] =375 \times 1[/tex]

[tex] = 375[/tex]

Answer is Php 375.00

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